Research On The Impact Of Digital Inclusive Finance On Farmers’ Financing Availability

In 2022,State Council No.1 Document focused on the issue of agriculture,countryside and farmers again,and emphasized the strategy of revitalizing the countryside as the main starting point for the work of agriculture,rural areas and farmers in the new era.Meeting the financial needs of farmers,allowing farmers to have sufficient funds to invest in production and operation,and then driving the development of rural economy is an important means to realize rural revitalization.In recent years,China has vigorously promoted Inclusive Finance to take root in rural areas in order to meet the financial needs of farmers.However,the low efficiency of financial services and the lack of risk control ability hinder the development of Inclusive Finance and weaken the effectiveness of Inclusive Finance.The development of digital technology has brought new ideas to solve these problems.The digital Inclusive Finance formed by the combination of digital technology and Inclusive Finance has both advantages,fully makes up for the shortcomings faced by Inclusive Finance in the application process,and enables financial services to benefit every class and group.Therefore,studying the impact and mechanism of the development of digital Inclusive Finance on Farmers’ financing availability is of great significance to make finance better serve farmers and realize rural revitalization.Firstly,this paper reviews the research literature on digital Inclusive Finance,farmers’ credit behavior and farmers’ credit availability at home and abroad.Secondly,based on transaction cost theory,long tail theory and inclusive finance theory,this paper explores the mechanism of digital Inclusive Finance affecting farmers’ financing availability,then combs the reality of the development of domestic digital Inclusive Finance,and analyzes the reality of domestic farmers’ financing from the perspectives of supply and demand.After theoretical analysis,using the household micro data of China Household tracking survey(CFPS)and the Provincial Digital inclusive finance index,this paper empirically tests the impact of digital Inclusive Finance on Farmers’ financing availability and farmers’ financing amount through probit model and linear regression model,and tests the intermediary role of social capital in the impact of digital Inclusive Finance on Farmers’ financing availability.On this basis,the heterogeneity is analyzed from the perspective of region and income.The empirical results show that:(1)digital Inclusive Finance has a significant positive impact on the availability and amount of formal financing,but it has no significant impact on the availability and amount of informal financing.(2)Social capital plays an intermediary role in the process of digital Inclusive Finance promoting the availability of formal financing for farmers.(3)Heterogeneity analysis shows that the development of digital Inclusive Finance has a significant impact on the availability and amount of formal financing of farmers,low-income and high-income farmers in the western region,but not on middleincome farmers in other regions.According to the research conclusion,this paper proposes to improve the construction of information infrastructure in rural areas and actively use new technology;Strengthen the promotion of digital Inclusive Finance and improve the literacy of farmers;Enrich rural digital inclusive financial products and improve the accuracy of services;Improve the regulatory system and ensure the healthy development of digital Inclusive Finance,in order to provide theoretical reference for giving better play to the role of digital Inclusive Finance and helping farmers’ financing.