The Impact Of Financial Development On The Income Gap Between Urban And Rural Residents In Henan Province

For the social economic development,finance undoubtedly occupies a pivotal position,and at present,a wave of economic financialization has been formed all over the world.After 40 years of reform and opening up,China has made remarkable achievements in economic development.The average annual economic growth rate of Henan Province in the first 10 years since the beginning of this century has reached an astonishing 18.7%.Driven by the rapid development of economy,Henan's financial industry has also ushered in a new stage of development,and gradually formed a new market pattern in which diversified financial institutions coexist.The total amount of financial assets in the whole region is also increasing.The problem of the gap between the rich and the poor follows.Therefore,many researchers stand on different research positions and combine with different theoretical backgrounds to analyze the reasons for the widening income gap.However,there is no evidence of the direct relationship between financial development and income distribution in the current research literature,and most of them are regarded as an accessory product of the research conclusion And put forward.In recent years,with the deepening of research,scholars have made more detailed and in-depth research on the endogenous relationship between financial development and income gap.Based on the specific situation of Henan Province,this paper focuses on the relationship between financial development and income gap between urban and rural residents in Henan Province.Based on this background,this paper takes the main research objects of Henan Province,summarizes the research results at home and abroad,synthesizes a variety of financial development theories including threshold effect of financial development in Henan Province,focuses on the endogenous relationship between local financial development and income gap between urban and rural residents,starting from the theoretical and current situation analysis,combined with panel data analysis and other means This paper explores the relationship between the degree of financial development and the income gap between urban and rural residents in Henan Province.Combining theoretical analysis with empirical analysis,and then according to the results of the analysis to formulate targeted countermeasures.First of all,we should increase investment in the development of financial industry in rural and pastoral areas.For example,we should develop new business forms of financial institutions in rural and pastoral areas,rectify non-governmental financial organizations,and strictly supervise them,and establish and improve the corresponding financial system and management system in rural and pastoral areas.Secondly,we should rationally optimize the scale,efficiency and industrial structure of financial development,for example,to give full play to agriculture The ability of village financial institutions,strengthening the operation efficiency of financial structure,building diversified financial industry,etc.