The Research On Measurement Of Inclusive Finance And Real Economy Development Level And Its Spatial Correlation In The Yangtze River Economic Belt

With China's economic development entering a new era,the construction of inclusive financial system has become an important financial development strategy to increase the economic coverage of financial services for entities and enhance the efficiency of financial services.During the thirteenth collective study of the Political Bureau of the CPC Central Committee in 2019,General Secretary Xi Jinping again stressed the need to deepen the structural reform of the financial supply side,enhance the capacity of financial service for the real economy and guard against financial risks.At the same time,the overall development of the real economy can not be separated from the coordinated development of all parts of real economy in various regions.In the 20]9 Government Work Report,it is pointed out that the development of the Yangtze River Economic Zone should adhere to the coordination of the upper,middle and lower reaches,and build a high-quality economic zone for development.The Yangtze River Economic Zone is an important support for the development of China's real economy,which includes Shanghai,Jiangsu,Zhejiang,Anhui,Jiangxi.Hubei,Hunan,Chongqing,Sichuan.Yunnan and Guizhou provinces(cities),spanning eastern,central and western China.Therefore,it is necessary to study Inclusive Finance and real economy development in the Yangtze River Economic Zone.This paper is divided into six chapters:the first chapter is the introduction;the second chapter is the concept definition and overview of related theories;the third chapter is the analysis of the current situation of Inclusive Finance and real economy development in the Yangtze River Economic Zone;the fourth chapter is the measurement and evaluation of development level of Inclusive Finance and real economy in the Yangtze River Economic Zone;the fifth chapter is the spatial econometric empirical analysis of Inclusive Finance and real economy development level in the Yangtze River Economic Zone.The sixth chapter is the conclusion and countermeasures.On the basis of theoretical analysis,hypotheses are put forward in this paper.Firstly,the status quo of Inclusive Finance and real economy development in the Yangtze River Economic Zone is analyzed.The inclusive financial development index and real economy development evaluation scores of 11 provinces(cities)in the Yangtze River Economic Zone from 2008 to 2017 are calculated by using the methods of entropy and dynamic factor analysis.On this basis,we construct a spatial econometric model to test empirically hypothesis 1,the existence of "inverted-shape U" relationship between Inclusive Finance and real economic development,and hypothesis 2 There is a significant positive spatial correlation between the operation of real economy and the development of Inclusive Finance in different provinces and cities in the Yangtze River Economic Zone.The development of Inclusive Finance in surrounding provinces and cities has a significant positive spatial correlation with each other.There is a spillover effect in the development of Inclusive Finance.Finally,based on the conclusions of the study,some countermeasures and suggestions are put forward.The results of this study show that:during the period of investigation,Inclusive Finance and real economy development in the Yangtze River Economic Zone show the characteristics of time instability and spatial non-equilibrium.Inclusive Finance development appears the trend of "central collapse" and real economy development presents the pattern of "high in the East and low in the west";the overall impact of inclusive finance development in the Yangtze River Economic Zone on the real economy shows a "inverted-shape U" relationship.The development of Inclusive Finance in different provinces plays a significant role in promoting the operation of real economy,but the development of Inclusive Finance and real economy in the downstream provinces shows incomplete consistency in space.Spatial dimension is of great significance to the development of Inclusive Finance and real economy in the Yangtze River Economic Zone.There are significant spillover characteristics for the development of Inclusive Finance in surrounding provinces and cities to the development of real economy in the local province.Therefore,the heterogeneity and spatial interaction of provinces should be included in the analysis and policy-making process of inclusive financial development and real economy operation.