Study On The Influence Of Inclusive Finance’s Development On Farmers’ Income Level

This paper studies the effect of the development level of inclusive finance on the income level of rural residents.Taking the provincial statistical data of 31 provinces(cities,autonomous regions)in the country from 2011 to 2017 as the observation sample,11 indicators are selected from four dimensions,including the permeability of financial services,service use,service quality and sustainability,and the coefficient of variation method and Euclidean distance method are used to measure the development level of inclusive finance.The stepwise regression analysis method is used to carry out regression analysis on the whole sample data and sub-sample data.Through the comparison of the whole sample data and sub-sample data,the regional differences in the development of inclusive finance are analyzed,and the intermediary effect model is used to test whether the level of rural entrepreneurship plays a mediating role in it,and the robustness of the empirical results is tested by replacing the regression model.Based on the results,relevant suggestions and countermeasures for inclusive financial development and improving farmers’ income are put forward in order to better form a rural financial service system with wide coverage,high service quality and economic development level in the whole country.This paper analyzes the impact of inclusive financial development on the income level of rural residents from a quantitative perspective,and the results show that:(1)From the observation results of inclusive financial development,the level of inclusive financial development across the country is on the rise,the level of inclusive financial development in the eastern region is high,the level of development in the central and western regions is low,and there are regional differences in inclusive financial development.(2)There is a significant linear relationship between the development level of inclusive finance and the income level of rural residents,indicating that the development of inclusive finance has a positive and positive effect on farmers’ income.(3)The development of inclusive finance in the eastern part of the country has a significant positive effect on the income of rural residents,while the impact of inclusive finance in the central and western regions on the income of farmers is weak,indicating that there are regional differences in the impact of the development level of inclusive finance on the income level of rural residents across the country.(4)In the control variables,the level of education,the level of economic development,the level of government financial expenditure and the wage level of urban unit employees have a significant impact on farmers’ income.Agricultural development level and fixed assets investment level have no significant impact on farmers’ income increase.(5)The intermediary effect analysis shows that inclusive finance can promote the level of entrepreneurship in rural areas and increase farmers’ income,and Sobel test value is significant at the level of 10%.