Research On The Impact Of Digital Inclusive Finance On Farmers’ Income Level From The Perspective Of Rural Industry Integration

The issues of rural areas,agriculture and farmers are related to our future economic development and the realization of the goal of common prosperity.The No.1 document of 2023 Central Committee continues to broaden the channels for farmers to increase their income and promote their income as the primary goal.If industry prospers,countryside prospers.As an important way of industrial revitalization,rural industry integration can optimize the internal production and management structure of agriculture and combine with external industries to optimize resource allocation to promote rural economic development and increase farmers’ income.Digital financial inclusion can help expand the coverage of financial services and improve financial exclusion.It can not only enable more rural residents to access financial services through formal channels,but also improve convenient,low-cost and high-quality financial products and services for rural industrial integration subjects,which is conducive to expanding farmers’ income sources and raising their income level.Indepth exploration of the internal mechanism of the integration of digital inclusive finance and rural industries and its impact on farmers’ income level is of great significance for solving Three Rural Problems,realizing the strategy of rural revitalization and improving farmers’ lives.Guided by inclusive finance theory,financial constraint theory,industrial integration theory and industrial chain theory,this paper constructs a theoretical model of digital inclusive finance and rural industry integration affecting farmers’ income level on the basis of summarizing domestic and foreign research trends,and explains the internal mechanism of digital inclusive finance’s impact on farmers’ income level from the perspective of rural industry integration.Based on the macro data of 30provinces(municipalities and autonomous regions)from 2011 to 2019,the entropy method was used to measure the development level index of rural industrial integration in each province,and the descriptive statistical analysis method was used to reveal the current situation and characteristics of digital inclusive finance,rural industrial integration and farmers’ income.In the empirical test part,the fixed effect model is used to test the effect of digital inclusive finance and rural industry integration on farmers’ income level,and the intermediary effect model is used to further explore the mechanism of rural industry integration in digital inclusive finance affecting farmers’ income level.The research findings of this paper are as follows:(1)The sample data show that the digital financial inclusion index and the index of various dimensions grow by leaps and bounds,and there are obvious differences in the development level of digital financial inclusion among provinces;The integration development index of rural industries in all provinces shows an increasing trend,the unbalanced and uneven development is obvious;The disposable income of rural residents in China is on the rise,but the difference between the disposable income of farmers in different regions is huge.The development degree of digital inclusive finance,the integration of rural industries and the income level of farmers in the eastern region are all higher than those in the central and western regions.(2)In the test of the impact of digital inclusive finance on farmers’ income,digital inclusive finance and its sub-dimension coverage breadth index,usage depth index,digitization degree index have a significant positive impact on farmers’ income level.By region,the impact of digital inclusion finance on farmers’ income is the largest in the eastern region,and the smallest in the western region.The effect of digital inclusion finance on farmers’ income level in high urbanization level areas is greater than that in low urbanization level areas.(3)In the test of the effect of rural industrial integration on farmers’ income level,rural industrial integration,its sub-dimension extension of agricultural industrial chain,expansion of agricultural versatility,penetration of agricultural high-tech,and cultivation of industrial integration subjects all have significant positive effects on farmers’ income level.By region,the effect of rural industrial integration on farmers’ income level is the largest in eastern region,followed by central region,and the least in western region.The effect of rural industrial integration on farmers’ income level is greater in low level of urbanization than in high level of urbanization.(4)In the test of intermediary effect,rural industry integration played a part of the intermediary effect in the process of digital inclusion finance affecting farmers’ income level,and the intermediary effect accounted for 16.01% of the total effect;The extension of agricultural industry chain,the expansion of agricultural versatility,the penetration of agricultural high-tech and the cultivation of industrial integration also play a part of the intermediary effect in the process of digital inclusion finance affecting farmers’ income level,and the intermediary effect accounts for 4.45%,4.49%,8.04% and 15.17% of the total effect,respectively.Based on the above conclusions,this paper proposes to strengthen the publicity and education of digital inclusive finance,promote the construction of digital inclusive finance infrastructure,and strengthen the innovation of digital inclusive finance products and services to promote the development of digital inclusive finance.It is suggested to build and extend the agricultural industry chain,fully tap agricultural versatility,accelerate agricultural technological innovation,strengthen the construction of rural industrial integration team to promote rural industrial integration,innovate products and services related to rural industrial integration,and formulate regional differentiated development strategies to help farmers increase their incomes.