The Research On Influence Factors Of Regional Financial Exclusion In China

The financial exclusion problem was first researched in some developed countries such as Britain.Now more and more countries have begun to pay attention to the phenomenon of the vulnerable groups being excluded from the mainstream financial services.The vulnerable people are at a more disadvantaged position in the bank accounts,savings,credit and risk management,while it is more difficult for middle and small-sized enterprises to get loans.How to alleviate financial exclusion problem is also an important subject in China.One aim of the research is to abundant domestic researches of financial exclusion and to provide new ideas to structure financial exclusion index.The other one is to find out the significant factors by measuring the financial exclusion index and analyzing the influence factors so as to provide policy support to alleviate the domestic financial exclusion problems.This paper uses the yearly financial data such as the number of bank branches and other macro data of 31 provinces from 2009 to 2015 to do the empirical analysis.When measuring the index,this paper chooses the component factors not from the perspective of classification but from the perspective of supply and demand.And it makes the coefficient of variation as the weight of each component factors.The greater the financial exclusion index,the more serious the regional financial exclusion phenomenon.When analyzing the influencing factors,it maps the space distribution of financial exclusion which is used to observe its spatial correlation.While the Moran's I Test and Local Moran scatter diagram are also used to validate it.Then,it uses the pooling test to determine whether the cross-sectional data can be in sequential mixture.After the BSK spatial correlation test on the panel data regression models,it chooses suitable spatial econometric models to analyze whether those factors have a significant impact on the financial exclusion.The empirical results are as followed: firstly,financial exclusion exists obvious regional differences and spatial correlation in China.Secondly,the higher the income level,the lower degree of the residents' financial exclusion;at the same time,as the Internet penetration rate and the urbanization level are improving the residents' financial exclusion now is more serious.Finally,the better the operation,the lower degree of the enterprises' financial exclusion.Here are some macro-policy recommendations: local government should adjust measures according to the local conditions and pay more attention to the regional cooperation.To alleviate the residents' financial exclusion,the governments should make great efforts to improve residents' financial qualification.In addition,in the process of the Internet popularization and urbanization,governments should strengthen residents' Internet financial education and make allocation of resources reasonable so as to turn their comprehensive effect to an up-side.To alleviate the enterprises' financial exclusion,the governments can provide feasible credit promotion ways to the promising enterprises which are in trouble temporarily so that they can obtain financial services easier.