Study On The Impact Of Digital Inclusive Finance On The Development Of Rural Revitalization

Since the reform and opening up,China’s economy has grown rapidly,yet the gap between urban and rural development has also gradually widened.Against this background,the Party and the State have creatively put forward the strategy of rural revitalisation.The importance of financial support for rural development is self-evident.However,due to the incomplete credit system in rural areas and the unstable income of farmers,there is serious financial exclusion in rural areas,and their financial needs cannot be effectively guaranteed under the traditional model.With the extensive coverage of China’s digital infrastructure,digital inclusive finance has emerged.Compared with traditional financial models,it is more inclusive in nature due to its wide coverage and more sustainable due to its low cost,thus effectively cracking rural financial exclusion,meeting rural financial needs in a sustainable and efficient manner,and providing financial support for rural revitalisation development.Therefore,it is of great practical significance to fully study the impact of digital inclusive finance on the development of rural revitalization.This paper will carry out research from the following aspects.I.Based on the connotation of rural revitalization,explore the direct role of digital inclusive finance on it and determine the promotion effect of digital inclusive finance;II.On the basis of clarifying the promotion effect of digital inclusive finance,analyze the influence mechanism behind it;III.Due to the fundamental role of digital infrastructure and traditional financial development,this paper will analyze the moderating effect of these two on the promotion effect of digital inclusive finance;IV.Considering the digital inclusive financial nature,this paper will analyze whether there is an inverted U-shaped relationship between it and rural revitalization,so as to clarify the relationship between the two;Ⅴ.Finally,a heterogeneity analysis will be conducted for regional differences,different dimensions of digital inclusive finance and differences in different businesses.The findings of this paper include: Ⅰ.the direct promotion effect of digital inclusive finance is obvious;Ⅱ.digital inclusive finance can exert its promotion effect through "rural entrepreneurial vitality" and "rural residents’ income";Ⅲ.digital infrastructure and traditional financial development can positively affect the promotion effect of digital inclusive finance.Ⅳ.The relationship between digital inclusive finance and rural revitalization development is "inverted U-shaped",but it has not yet reached the top of the inverted U-shaped graph,and digital inclusive finance can still exert its promotion effect;Ⅴ.The heterogeneity analysis shows that the promotion effect of digital inclusive finance is the largest in the central region,while Among its dimensions,it is the degree of digitalisation that has the most significant boosting effect,and among its businesses,it is the credit business that has the most significant boosting effect.Therefore,the core recommendation of this paper is to accelerate the development of digital inclusive finance and amplify its promotion effect.Specific measures include strengthening the construction of digital infrastructure,promoting the coordinated development of traditional finance and digital inclusive finance,implementing differentiated digital inclusive finance policies,accelerating the digital transformation of financial institutions,and innovating digital inclusive finance products.