Research On The Influence Of Integrated Inclusive Finance On Urban-rural Income Gap

The solution of the gap between the rich and the poor has always been the focus of scholars in economics circles in various countries.The urban-rural income gap is the most important factor in the causes of the gap between the rich and the poor China's gap between the rich and the poor has shown a trend of falling first and then rising in the past decade.Since the Gini coefficient of seven consecutive declines in 2009,China's Gini coefficient has rebounded to 0.474 in 2018,up 1.5%year-on-year In terms of the urban-rural income gap,the absolute difference in the per capita disposable income ratio between urban and rural residents reached 24,634 yuan,a record high.The long-term lack of formal financial services in remote rural areas has also aggravated the income gap between urban and rural residents to some extentBased on the above background,this paper will study the impact of comprehensive inclusive finance(hereinafter referred to as inclusive finance)on the urban-rural income gap by combining inclusive financial and digital inclusive finance The research starts from the theoretical mechanism and empirical test.The theoretical mechanism analysis shows that the impact of inclusive finance on the urban-rural income gap is mainly reflected in the reduction of the threshold effect and the elimination of the exclusion effect in the direct effect and the indirect effect by promoting macroeconomic growth and indirectly driving the economic development of the underdeveloped rural areas.The effects of increased economic growth and the effect of income distribution on the accumulation of human capital.On the level of empirical test,this paper selects two representative indicators of the 31 provinces and autonomous regions and uses the principal component analysis method to construct the inclusive financial development index of each province from 2011 to 2018,drawing on the figures of Peking University.The digital inclusive financial index issued by the Financial Research Center determines the weights of the two indices through the entropy method,constructs the comprehensive inclusive financial index of each province in the past 8 years,and then uses the most explanatory variables of the comprehensive inclusive financial index to calculate the urban-rural income gap.Returning,it is concluded that the development of comprehensive inclusive finance can significantly narrow the income gap between urban and rural areas.Finally,in view of the above conclusions,this paper puts forward policy Suggestions from micro,medium and macro aspects to promote comprehensive inclusive financial development and narrow the urban-rural income gap.At the micro level,it supports the development of Internet financial enterprises and boosts the process of digital inclusive finance.By properly fostering emerging Internet financial enterprises and making good use of the special long tail effect of Internet finance,the traditional financial industry is forced to improve its governance structure,seek business innovation,reduce operating costs and improve service efficiency.In the medium level,it supports the cooperation between development financial institutions and commercial Banks,reduces the loan cost of small and micro enterprises,improves the credit investigation system of the central bank,and reduces the information asymmetry when lending to small and micro enterprises.We will provide subsidies and support to rural financial institutions,make flexible use of proactive monetary policies such as rediscount,re-lending and differentiated reserve requirements,strengthen the ability of rural financial institutions to provide services to agriculture,rural areas and farmers,and enhance the subjective will and ability of the traditional financial sector to develop inclusive finance.At the macro level,create "Internet+"village Banks,"Internet+community" and "Internet+" small Banks,break the regional restrictions,rely on product innovation,to create "Internet+" personalized financial products,the innovation risk control measures,with the aid of code to pay,biometric emerging digital technology,such as strengthening traditional financial industry on mobile Internet application security.