Research On The Impact Of Digital Inclusive Finance On Farmers' Income Under The Background Of Common Prosperit

Since the goal of achieving common prosperity was put forward,China has introduced a number of policies and measures and actively implemented them to gradually eliminate polarization,narrow the income gap between urban and rural areas,and strive for common prosperity with good results.In practice,it is found that promoting farmers’ income is an important part of realizing our common prosperity.Financial services can affect farmers’ income in many aspects and play a certain connecting and strengthening role.However,with the accelerated development of our economy and the concentrated tendency of resources,the unbalanced problems of financial services also emerge constantly,becoming the short board factor limiting farmers’ income growth.Not conducive to the realization of the goal of common prosperity.With the increasing maturity of Internet technology,network coverage is increasing year by year.The rise of digital inclusive finance,which combines the common advantages of traditional finance and emerging digital economy,has played a great role in breaking this situation.Digital inclusive finance is a financial model suitable for many rural areas and a large rural population,which can play a positive role in increasing farmers’ income.Therefore,exploring the relationship between the development of digital inclusive finance and farmers’ income under the background of common prosperity will become the focus of this paper.Based on the above,this paper takes the impact of digital inclusive finance on farmers’ income as the main research object.In the process of research,firstly,relevant research results of digital inclusive finance and farmers’ income are sorted out at three levels.Secondly,it summarizes related concepts and theories needed for the research,and combines theories with reality to analyze the channels through which digital inclusive finance affects farmers’ income,and then puts forward research hypotheses.Then through the analysis of the current situation of digital inclusive finance and farmers’ income,the realistic connection between the two is summarized.On this basis,the index data is selected and the econometric model is used to analyze the panel data of 30 provinces and cities from 2013 to 2020.It includes using fixed effect model to explore the direct effect of digital inclusion finance on farmers’ income increase,using intermediary effect model to explain the mechanism of digital inclusion finance on farmers’ income increase,conducting heterogeneity analysis,exploring the conditions of income increase effect and explaining the relationship between income increase effect and common prosperity,and verifying the research results through endogeneity test.The results show that:(1)Digital inclusive finance has a significant increase effect on farmers’ income;(2)Rural entrepreneurial activity,agricultural industry development,non-agricultural employment rate are the mechanism of the effect of digital inclusive finance on farmers’ income;(3)The effect of digital inclusive finance on farmers’ income is different among different regions and groups,and it has a more obvious effect on low-income groups in western China.(4)Internet usage rate,technical level,human capital and financial development are the preconditions for the income increasing effect of digital inclusive finance;(5)Digital inclusive finance can promote the growth of farmers’ income by increasing their wage income and business income to achieve the goal of common prosperity.Meanwhile,the goal of common prosperity also catalyzes the effect of digital inclusive finance on farmers’ income.Based on the research results,this paper puts forward policy suggestions from the perspectives of continuously promoting the popularization and development of digital inclusive finance,deepening the integration of digital inclusive finance and rural economy,strengthening the construction of digital economy infrastructure in rural areas,and paying attention to the differences in development.It will contribute to the improvement and development of digital inclusive finance in China,bring into play the effect of increasing farmers’ income,narrow the urban-rural income gap,and realize the goal of common prosperity at an early date.