Research On The Effect Of Digital Inclusive Finance On Rural Residents’ Income Increase From The Macro And Micro Perspective

With the widespread application of "Internet +",our country has formed based on the technology of the 5 g of pratt &whitney financial development pattern,pratt&whitney financial with the help of modern technology can assign,improve the efficiency of financial services,improve peasants’ financial services "gain" feeling,alleviate the farmer’s financial exclusion problems and "limited participation" of rural financial market.On February 1,2021,the CPC Central Committee and The State Council issued the No.1 Document of the CPC Central Committee,which reflected the priority of "agriculture,rural areas and farmers" in the work of the whole Party and the acceleration of rural revitalization strategy.Clearly proposed the development of rural digital inclusive finance,improve the quality and quantity of digital financial services in rural areas,enhance the vitality of rural economy,strengthen inclusive financial resources and rural revitalization elements guarantee.Therefore,studying the impact of digital inclusive finance on rural residents’ income provides important theoretical and practical value for promoting rural revitalization and preventing farmers from returning to poverty.Firstly,through theoretical analysis,this paper studies the mechanism of digital inclusive finance promoting the increase of farmers’ income,and studies the development status of Digital inclusive finance and rural residents’ income in China.Questionnaire survey is also used to analyze the use of digital inclusive finance among rural residents.In the empirical aspect,the synergistic effect of digital inclusive finance on farmers is studied from both macro and micro perspectives.At the macro level,panel data of Prefecture-level cities in China from 2011 to 2019 are used to study the influence of digital inclusive finance on farmers’ income increase by adopting panel fixed effect and panel quantile model.In addition,the policy effect of digital inclusive finance on farmers’ income increase is studied by using dual difference model.In addition,the intermediary effect model is established.To study the indirect effect of digital inclusive finance on farmers’ income;At the micro level,this paper mainly uses the micro database of Chinese household finance survey to study the income increase impact of rural residents at different income levels through the quantile model,and studies the income increase heterogeneity of digital inclusive finance on rural residents under different human capital based on the educational level of rural residents.Through the study found that both macro and micro level of pratt &whitney financial is to promote the farmers’ income is the key factor,which covers the breadth and depth of use is to promote the main driver of increasing farmers’ income,and low-income groups have higher financial elements in the marginal rate of return,the income effect is the most obvious,after endogenous and robustness test conclusion remains valid.At the macro level,further regional examination shows that the income increase effect of eastern and western regions is better than that of central regions.Moreover,digital inclusive finance has policy effect on increasing farmers’ income;In addition,through the intermediary effect test,digital inclusive finance can indirectly promote farmers’ income through regional economic growth and income distribution level.At the micro level,the degree of influence of digital financial inclusion on farmers with different income levels presents a quasi-inverted "U" shape,and the influencing factors of different income levels present heterogeneity characteristics.Human capital is also the main factor that promotes farmer to increase income.Finally,based on the above analysis and research,this paper puts forward suggestions: first,strengthen the construction of rural digital financial infrastructure and ecological system,and give play to the direct role of digital inclusive finance in increasing rural residents’ income;Second,maintain regional economic growth,improve income distribution between urban and rural areas,and play the indirect role of digital inclusive finance in increasing rural residents’ income;Thirdly,we should strengthen the financial expenditure of education,improve the financial literacy of rural residents,and make up the "financial information gap" of rural residents.Fourth,improve the credit level of rural residents,improve the credit investigation system,alleviate the information asymmetry between rural residents and financial institutions.