Rural Financial Development In China

Agricultural,rural and peasant issues(abbreviated as the"three rural issues")that take into account the economic,political and social nature are the fundamental issues related to the national economy and people's livelihood.They not only restrict the comprehensive and comprehensive development of China's social economy at the current stage,but also affect the smooth progress of China's modernization process.Advance.Since the 12th Five-Year Plan period,under the background of China's supply-side structural reforms and financial reforms,rural finance,which is a weak link in the financial system,has become an important focal point for reform.Rural financial development has provided new ideas and usefful lessons for promoting the development of rural economy and solving the"three rural issues"problem.However,international experience shows that it is difficult to achieve the desired results by simply using diversified policy measures to expand the reform model of the depth and breadth of services in the rural financial system.A stable macroeconomic development environment,adaptable and directive macroeconomic policies,as well as matching industrial policies and income distribution policies,etc.,are important means to successfully break stubborn illnesses and win the victory of rural financial reform.It can thus be seen that the landing of rural financial reform requires comprehensive strategic deployment and multi-faceted policy cooperation.Based on the above background,it is of great theoretical and practical significance to deeply analyze the rural financial development in China from the perspective of inclusive finance,and to explore the impact of rural financial development on the agricultural economy and peasants' income.It is of important theoretical and practical significance to choose a rural financial de'velopment model that suits China's national conditions.This paper first reviews the theory of rural finance and relevant literature at home and abroad,summarizes the history and current status of rural financial development in China,and then explores the impact of rural financial development on the growth of agricultural economy and peasants' income through theoretical analysis and empirical modeling.After drawing on the successful experience of rural financial development in other countries,this paper puts forward the mode choice of China's rural financial sustainable development and the suggestions on how to deepen the rural financial development.The main conclusions of this paper are:First,the relationship between rural finance and rural economy is based on coordinated development.Rural financial development can provide financial support to rural economic subjects in various ways and channels,such as the conversion of savings into investment and the increase of credit resources to the agricultural sector,thus further promoting rural economic development.The development of rural finance in China has played an important role in promoting the growth of rural economy as a whole.However,this promotion has an inverted U-shaped character and there are significant regional differences.Second,the promotion effect of rural financial development on the increase of peasants'income is restrained by many aspects such as the level and system of rural financial and economic development,which can not exert its function to the maximum extent.The impact of rural financial development on farmer's income in our country has significant threshold effect.With the development of rural finance or the improvement of economic development,the further enlargement of rural financial scale is not conducive to the growth of peasants'income,while the improvement of rural financial efficiency can make its contribution to the promotion of peasants'income stronger.Thirdly,with the implementation of the structural reform strategy on the agricultural supply side,vast rural areas will generate a large number of new financial needs and bring new opportunities and challenges to rural financial development.Under the background of agricultural supply-side reform,the innovation of rural financial development model according to the demand of land circulation is also an important part of the financial supply-side reform.According to the transfer of rural land in China and the development of rural finance,we should actively develop the transfer of rural land by the government-led model of land trust transfer.Meanwhile,in the context of the rapid development of the Internet,accelerating the innovation of"Internet +"rural financial models will play an important role in promoting rural financial development and enhancing its impact on rural economic development.The innovation of this paper lies in:According to the scale of financial development and the calculation method of financial development efficiency,we select the indexes that reflect the level of rural finance,and calculate the scale of rural financial development and the efficiency of rural financial development separately,and use it as the threshold variable and the main explanatory variables Analyze and study separately the impact of rural financial development on agricultural economic growth and peasant income growth in China;Using panel threshold regression model to examine the nonlinear relationship between rural financial development and farmer's income can not only alleviate the use of explanatory variables and quadratic terms to study the possible collinearity problems at the turning point but also make up for its inability to estimate two or Defects of more than two turning points;Explore the innovation of rural financial development model in the background of supply-side structural reform,propose the mode of rural land trust transfer,analyze the role of government credit in the transfer of land trust,and explore the rural financial development model based on"Internet +"and new rural finance Institutional development model.