Study On The Impact Of Digital Inclusive Finance On Farmers’ Entrepreneurship

Increasing farmers’ income is an urgent task of agricultural and rural development in China at this stage,and farmers’ entrepreneurship is expected to become a breakthrough to achieve this task.The State Council has issued a series of documents to strongly support and encourage farmers’ entrepreneurship,which has become a major national strategic task.The driving efficiency of traditional agricultural economy on resource factors is low.Farmers’ entrepreneurship is an important part of new rural construction,which is conducive to reducing urban-rural differences,moving forward to the road of common prosperity,and benefiting to the better economic development.Financial restriction has always been used as a significant factor limiting farmers’ entrepreneurship.Digital inclusive finance improves the availability of financial services for groups not covered by traditional financial formats.Therefore,the importance of digital inclusive finance to farmers’ entrepreneurship is self-evident.First,this article reviews the relevant documents of digital inclusive finance and farmers’ entrepreneurship,including the development of digital inclusive finance in rural financial market,the influence factors of farmers’ entrepreneurship,the impact consequences and mechanism of digital inclusive finance on farmers’ entrepreneurship,as well as the different impact on farmers’ entrepreneurship in different regions.Secondly,on this basis,this paper designs the whole analysis framework,as follows,digital inclusive finance promotes farmers’ entrepreneurship by improving farmers’ income level,payment convenience and information access,and explores the impact of digital inclusive finance on farmers’ entrepreneurship in the eastern,central and western regions.Then,combined with the relevant data of digital inclusive finance and farmers’ entrepreneurship,the article makes a descriptive analysis of its actual development condition.Finally,according to the theoretical analysis framework of this study,match the data of China’s Household Finance Survey(2019)with the digital inclusive finance index of Peking University(2018),build a binary probit model,and focus on the impact effect,impact mechanism and effect difference of digital inclusive finance on farmers’ entrepreneurship.The research conclusions of this paper are as follows:(1)Digital inclusive finance has greatly promoted farmers’ entrepreneurship.In view of the endogenous problem that may make the research results deviate,the instrumental variable of the number of websites in each province is introduced,and this conclusion is still valid.Finally proving the robustness of this conclusion by using variable replacement method,model replacement method and sub sample regression method;(2)The three secondary sub indicators of digital inclusive finance(coverage breadth,coverage depth and digitization degree)have significantly promoted farmers’ entrepreneurship,and the impact of digitization is more prominent than the other two sub indicators;(3)The three mechanisms of digital inclusive finance affecting farmers’ entrepreneurship are income level,payment convenience and information access;(4)Digital inclusive finance has a significant positive impact on farmers’ entrepreneurial activities in the central and eastern regions,and the impact of the central region is stronger than that of the eastern area,which means it can narrow the gap between regions to a certain extent,and there is still new room for improvement in the western region.According to the research conclusions,this paper puts forward the following policy suggestions:(1)Deeply integrate the traditional financial business and digital technology in rural areas,and continuously expand the coverage,strengthen the coverage depth and accelerate the digitization degree in the supply of financial products and services;(2)Make use of the information technology advantages of digital inclusive finance,on the one hand,accurately locate the target customers,on the other hand,deepen farmers’ understanding of digital inclusive finance and improve farmers’ participation level in digital inclusive finance;(3)Face up to the differences in the acquisition of digital inclusive finance in different regions,strengthen exchanges and cooperation among regions,and strengthen the construction of the western region.