Research On The Influence Of The Development Of Inclusive Finance In Henan Province On Farmers’ Income

The basic concept of inclusive finance has been officially put forward since 2005.Through more than ten years of development and reform,inclusive finance has gradually gained the support and recognition of the government,which is mainly due to its inclusive and non-discriminatory nature.The “pursuit of profit” of financial services is one of the important reasons for the long-term gap between the rich and the poor and restricting economic growth.After the introduction of “inclusive finance” in 2006,a series of measures and inclusive financial policies were introduced intensively to promote the development of inclusive finance in China.The development of rural finance involves 800 million peasants,which not only has a significant positive effect on farmers’ income,but also increases farmers’ income accordingly.In recent years,with the continuous improvement of the economic development level of Henan Province,the problem of urban-rural income gap has become increasingly prominent.Therefore,based on the county perspective,this paper studies the current situation of inclusive finance in Henan Province.Firstly,based on the research of predecessors,the paper analyzes the county inclusive financial evaluation index system in Henan Province,and calculates the development level of inclusive finance in each county..Secondly,using panel data regression,the effect of the development of inclusive financial development in counties of Henan Province on farmers was demonstrated.The following conclusions are summarized:(1)From 2012 to 2016,the level of inclusive finance in Henan Province is generally at a low level,but it is increasing year by year.The level of development of inclusive finance between counties varies greatly,with an extreme value of more than five times.(2)The development level of inclusive finance is positively related to farmers’ income.Industrial structure,fiscal expenditure levels,employment levels,and fixed asset investment are positively related to farmers’ income.The development of inclusive finance has an effect of increasing incomes for farmers.Other control variables have a positive or negative impact on farmers’ income.