Religious Culture And The Development Of Inclusive Finance

Since the United Nations puts forward the concept of inclusive finance in the promotion of "2005 the international year of microcredit",inclusive finance brought to the attention of more and more countries.Every country is actively exploring the development path of inclusive finance,through government support and improve the market mechanism and other measures to improve the availability of financial services.China has introduced a number of policies to encourage and support the development of inclusive finance.In December 2015,the State Council issued "to promote inclusive financial development plan(2016-2020)" which has made planning guidance for the development of inclusive financial.International experience shows that the construction of inclusive financial system is conducive to the rational allocation of productive resources,narrow the gap between rich and poor,thereby reducing the incidence of poverty.China’s major areas of inclusive finance development in rural and remote areas of the Midwest.China’s Tibetan region refers to the gathering residence of Tibetan people in China,including Tibetan regions in Tibet,Qinghai,Gansu,Sichuan and Yunnan province,which is remote and poor mountaious areas.The financial exclusion phenomenon is more serious,the development of Inclusive Finance degree is low.The development of inclusive finance in China need to focus on Tibetan regions.The religious culture makes the Tibetan region has completely different characteristics with other regions of the China.Then,under the realistic background that inclusive finance is getting more and more attention,what is the relationship between religion culture and inclusive finance development? And what is the effect of religion culture for the development of inclusive finance in the Tibetan region? Based on the thinking of these issues,the goal of this paper is to study the relationship between religious culture and the development of inclusive financial.And it also has analyzed the relationship between the Tibetan religious culture factors and inclusive financial development.The main part of this paper can be divided into four parts,including seven chapters,the main contents of each chapter are as follows:The first part(Chapter 1): Introduction.Firstly,this chapter introduced the background and significance of the research.Secondly from four aspects,summarized the existing related literature.Then introduced the research ideas and framework.Finally,summarized the innovation of this research,innovations are mainly reflected in two aspects of the content and conclusion.The second part(Chapter 2-3): Based on the perspective of supply and demand,we constructed a theoretical model to analyze the influence of religious factors on inclusive finance.Then,home-based micro data,we examine the existence of such effects.Then,we examine the existence of this effect in the case of family data.Chapter 2: This chapter systematically analyzes the function mechanism of the influence of inclusive finance caused by religious cultural factors.Firstly,from the viewpoints of history,the close relationship of finance and religious culture was analyzed.On the one hand the authority of the earliest object as money derived from the mystery conferred by religion;the other hand,early financial activity is derived from the religious organizations.Secondly,we introduced social and environmental factors in the credit supply and demand model,and established the theoretical basis of the effect that religious culture influence the development of inclusive finance.On financial markets,the level of inclusive financial development depends on supply and demand for financial services.The supply and demand of financial services depends on three common factors: social environment factor,wealth and price level.The religious culture as an important part of the social environment will directly affect the social environment,but also indirectly affect the wealth scale,thus affecting the demand and supply of financial services,further affect the development of Inclusive Finance.Finally,it summarizes the three cultural channels through which that religious culture influence the development of inclusive financial,including the overall socio-economic attitudes,the visible vector of religion and micro market participants.The main conclusions: In the financial services supply and demand theory,religious culture as an important part of the social environment can affect the supply and demand of financial services through certain channels,and thus indirectly influence the development of inclusive finance.Chapter 3: Based on the micro survey data of Chinese family,the existence of the mechanism of the influence of religious factors on the development of Inclusive Finance is tested.This chapter on 2013 "China Household Financial Survey" data,from the perspective of demand for financial services,the influence factors to the development of Inclusive Finance were analyzed,the results showed that family income characteristics,subjective attitude,personal characteristics of the main family financial member and family regional features of residence have a significant impact on the development of inclusive finance.Religious factors indirectly affect the development of inclusive finance,by affecting household wealth characteristics,subjective attitude,although the impact coefficient is relatively small but highly significant.This proves the existence of the intermediary channel,or that the theory that we put forward the influence of religious culture on inclusive financial development is not rejected.The third part(Chapter 4-6): This section discusses the relationship between the system Tibetan religion culture factors and inclusive financial development.First,the current situation of the development of inclusive finance and the environment of religious culture in Tibetan region were systematically analyzed;and Tibetan inclusive financial index were measure,and empirical factors affecting the development of inclusive finance;then systematic analysis mechanism of effects of the religious factors on Tibetan development of inclusive financial,and combined with the religious cultural environment,which is the important characteristic,put forward policy suggestions for Tibetan development of Inclusive Financial.Chapter 4: As a Tibetan background information,this chapter systematically described and analyzed Tibetan economic and social characteristics,religious environment and status of inclusive finance development.And combined with the existing domestic and foreign literature,we measured the inclusive finance index of 148 Tibetan counties.Statistics show that Tibetan harsh natural conditions and high illiteracy rate restricts the economic development of the region.Driven by substantial financial support and preferential policy,Tibet region’s economic development has made remarkable achievements,but compared with other regions of the country economic development level is still lagging behind,and lack of econo mic selfdevelopment capacity.A large number of sites for religious activities reflects the strong religious cultural atmosphere in the Tibetan region.Tibetan Buddhism with its unique values guide and influence the Tibetan people’s social and economic activities.In Tibetan region,a small number of financial institutions provide financial services,each service outlets radius is large,thus seriously affecting the availability of financial services in Tibetan region;at the same time,the low proportion of savings deposits and loans to GDP is also indirectly reflects the fact that The Tibetan people’s demand for financial services have not been met.Inclusive Financial Development Index measurement results show that the level of Tibetan inclusive financial development is generally low,there are significant differences between the county level inclusive finance development.Chapter 5: The main objective of this chapter is to analyze the influence mechanism of religious factors on the development of Inclusive Finance in Tibetan region,and analyze the factors influence the development of inclusive finance.First,based on real data and literature,discussed the influence of Tibetan religious factors on the development of Inclusive Financial from both the temple as the center of religious resources and ideology perspectives;then,consider the religious cultural environment factors,empirical analysis of factors affecting the development of inclusive financial Tibetan,respectively with OLS regression and quantile regression method.The empirical results show that: Specific ways that the Tibetan religious culture influence the development of inclusive financial,including: on the one hand,the tenet of Tibetan Buddhism is in pursuit of standing aloof from worldly affairs.That there is a certain inhibition of the development of modern economic and financial sector,restricting the formation of effective demand for financial services.The temple financial activities in some areas have extrusion effect on the formal financial services.On the other hand,the formation of fair trade around the monastery,the unique Tibetan religious and cultural tourism resources can promote local economic development.Tibetan Buddhism has a moral role in making the faithful have good moral character,which is conducive to the construction of social credit system in the financial development process.At the same time,there is a logic consistency between the concept of inclusive finance and the thought "treating all beings as equal" advocated by Buddhism,which is conducive to the promotion of inclusive financial innovation practice in Tibetan region.In addition to the economic base,the two key factors that influence the development of inclusive financial of Tibetan region is the government regulation and religious environment.The effect of the government regulation to the county with the low level of inclusive financial development was stronger.The religious environment already had positive influences to the inclusive financial development,also had negative.And relative to the county with a high or low level of inclusive financial development,the influence coefficient that religious culture environment affected on county with middle level of inclusive financial development was greater.Chapter 6: Based on the analysis conclusion of the previous two chapters,this chapter summarized the main difficulties of Tibetan region in the development of Inclusive Finance.Therefore,Combined with Tibetan religious and cultural environment,we give some suggestion from three aspects: promoting economic development,creating a good social environment and improving the financial system.Under specific conditions of economic geography and human environment constraints,the main difficulties,the main difficulties facing the development of Tibetan region’s inclusive financial reflected in the poor infrastructure,lack of endogenous economic growth momentum,the lack of promotion of inclusive financial development of favorable social environment and low coverage of financial services.Tibetan region’s inclusive finance development needs under the guidance of the government,pay full attention to the influence of religious cultural elements.Inclusive financial development needs on the basis of economic development,to create a good social environment for security,to perfect the inclusive financial system as the basis.The fourth part(Chapter 7): The author summarized all the work of this thesis,and gave some shortcomings in the research process and some suggestions for future research.