Spatial Effect Analysis Of China's Regional Financial Exclusion And Its Influencing Factors

According to the "Promoting the Development of Inclusive Financial Plan(2016-2020)",it is required to establish a comprehensive well-off society in 2020 and establish an inclusive financial service system that is compatible with it.However,the existence of "financial threshold" makes some groups unable to enjoy the same financial services and products,and is excluded from the financial system.This phenomenon is called financial exclusion,which will lead to problems such as widening the gap between the rich and the poor,mismatching financial resources,and low capital utilization.This is contrary to the inclusive financial philosophy.Therefore,in order to promote the realization of inclusive financial goals,alleviate the phenomenon of financial exclusion,it is necessary to carry out research on the status quo and influencing factors of China's financial exclusion.On the basis of considering the inter-linkages of the provinces,the paper broadens the research framework of regional financial exclusion on the theoretical level,and directs the free flow of financial resources within and across regions,from direct effects,indirect effects and total effects.The dimensions comprehensively analyze the mechanism of the factors affecting financial exclusion and the formation mechanism of the spatial agglomeration state of financial exclusion.The second is to broaden the dimension of the spatial distance of the provinces on the empirical level,and to enhance the interpretation of the spatial measurement model,and also confirm the necessity of conducting financial exclusion research from the perspective of spatial effects.Firstly,taking the panel data of 31 provinces(municipalities and autonomous regions)in China from 2005 to 2017 as the research object,constructing the financial exclusion index evaluation system and measuring the financial exclusion index;secondly,from the two dimensions of "geographic distance" and "economic distance" Three different spatial weight matrices were established,and Geoda software was used to test the spatial characteristics of financial exclusion from the aspects of global spatial correlation and local spatial correlation.Then,using Stata software to establish a spatial econometric model,empirical analysis of financial supply factors and financial demand factors Whether regional spillover effects and inter-regional spillover effects on financial exclusion are significant.The empirical results show that:(1)During 2005-2017,China's overall financial exclusion index showed a significant downward trend,and there was a significant spatial difference in regional financial exclusion.The eastern part had the lowest level of exclusion,followed by the western part and the middle part.(2)Through the global Moran'I index of the 2005-2017 financial exclusion index,it is found that China's financial exclusion has significant spatial positive correlation;through the partial Moran scatter plot test of the 2017 financial exclusion index,it is found that most provinces in China With positive agglomeration characteristics,the financial exclusion of most provinces in the central and western regions is "high-high"agglomeration,and the "low-low" agglomeration is in the eastern provinces.(3)In the analysis of financia supply factors,the expansion of the scale of commercial banks' assets will help the decline of local financial exclusion;the rise of non-performing loan ratio will aggravate the financial exclusion of local and neighboring regions;the local convenient Internet environment will cause financial in neighboring regions.Exclusion has risen;local government support has helped to alleviate local financial exclusion.(4)In the analysis of financial demand factors,the increase of local population density will help the financial exclusion of local and surrounding areas to decline;the increase of local per capita real income level will alleviate the local financial exclusion,but it will also make the financial exclusion of surrounding areas.The rise in local industries will help promote financial development in local and surrounding areas and ease financial exclusion.Finally,based on the research results,we provide targeted countermeasures for mitigating regional financial exclusion.Financial institutions in various regions should expand their financial scale and strictly review the procedures for non-performing loans.The government should also increase financial support,expand channels for resource diffusion,and strengthen regional financial cooperation to expand financial supply.Increase human capital investment,strengthen residents' financial awareness,raise the income level of residents,optimize the layout of industrial space,and thus enhance financial demand.