The Impact Of Digital Inclusive Finance On Farmers’ Income

The United Nations put forward the concept of inclusive finance in 2005 to provide financial services for vulnerable groups.The continuous development of the Internet and big data has led to the emergence of digital finance,enabling farmers in underdeveloped remote areas to enjoy financial services more easily,thereby increasing their income.China’s targeted poverty alleviation strategy has made great achievements.Among them,the development of digital inclusive finance plays an important role in China’s overall poverty alleviation.It is of great practical significance to study the effect of digital inclusive finance on the growth of farmers’ income.This paper first defines and differentiates the concept of digital inclusive finance on the basis of systematically collecting and sorting out relevant research on the impact of digital inclusive finance development on farmers’ income at home and abroad,elaborates relevant theories to guide and draw lessons from the following research,and puts forward research hypothesis;Secondly,using the Digital Inclusive Finance Index of Peking University(2011-2020)and data from different statistical yearbooks,this paper analyzes the development trend and current situation of the digital inclusive finance index and the per capita disposable income of farmers in various provinces of China.Thirdly,quantitative analysis of the impact of digital inclusive finance on farmers’ income,and finally put forward countermeasures and suggestions to promote the development of digital inclusive finance to improve farmers’ income.The conclusions of this paper are as follows: first,China’s digital inclusive finance develops rapidly,but there are great regional differences;Second,China’s farmers’ income has gradually increased and the income gap between regions has narrowed;Third,the development of digital Inclusive Finance has a significant positive effect on Farmers’ income.For every 1 percentage point increase in the digital inclusive finance index,the logarithm of farmers’ per capita disposable income increases by 00703 percentage points.Moreover,in the subdivision dimension of the digital inclusive finance index,the coverage and use depth also have a significant positive impact on Farmers’ per capita disposable income.Fourth,the impact of the development of digital Inclusive Finance on Farmers’ income has significant regional heterogeneity and intertemporal effect.Based on the above research conclusions,this paper puts forward some countermeasures and suggestions,such as innovating digital inclusive financial services to meet the multi-level needs of farmers,improving the digital infrastructure in backward areas,realizing the balanced development of digital Inclusive Finance,formulate digital inclusive financial development policies according to local conditions to achieve spillover effects,strengthening farmers’ financial consumption education and improving farmers’ financial literacy,In order to promote the rapid development of China’s digital Inclusive Finance,and then achieve the goal of increasing farmers’ income,narrowing the income inequality gap and common prosperity.