Research On Spatial Distribution And Convergence Of China's Inclusive Financial Development

The Chinese government attaches great importance to the development of inclusive finance.The Third Plenary Session of the 18 th CPC Central Committee and the promulgation of the "Promoting Inclusive Financial Development Plan(2016-2020)" has upgraded Inclusive Finance to the national development strategy.However,at present,most regions in China are still suffering from financial exclusion.The breadth,depth and breadth of finance have not yet reached the development requirements.Therefore,we study the development and spatial differences of China's inclusive finance,systematically examine its development status,it is of great theoretical value and practical significance to further explore the trends and regularity of China's inclusive financial development and promote the high-quality development of China's economy.This article is divided into five parts.The first part systematically sorts out the research results of scholars on inclusive finance,and lays a foundation for this research.The second part is based on the definition of the connotation of inclusive finance,discusses the relevant theories of the construction of evaluation index system reflecting the development degree of inclusive finance and it's influencing factors,which provide a theoretical analysis framework for later research.The third part selects indicators from four aspects: the penetration,availability,utility level and affordability of financial services,and builds an evaluation index system that reflects the development degree of inclusive finance.Based on the coefficient of variation method,China's 2005-2017 is calculated.The degree of inclusive financial development of the provinces is analyzed by Kernel density estimation method for the distribution dynamics of inclusive financial development in various regions.At the same time,based on the spatial effects,statistical analysis is made on the influencing variables of inclusive financial development.The fourth part,based on the panel data of 31 provinces from 2005 to 2017,constructs the spatial convergence measurement model of inclusive finance,and empirically studies the convergence of inclusive financial development in various regions.The fifth part proposes relevant policy recommendations.The main conclusions of this paper are as follows: First,the degree of penetration of financial services is still an important dimension to measure the level of inclusive finance.Second,the overall level of inclusive finance in China is low,and regional development is uneven.Third,there is a clear spatial positive correlation in the development of inclusive finance.Fourthly,in 2005-2017,only the overall and central regions of China showed obvious ?-absolute convergence,but after we controlled relevant influencing factors,such as the development of information technology,economic development level,the government support and the social environment and other related factors,each region showed obvious ? convergence,which indicates that the above four aspects are the main factors,and each region should focus on improving the four aspects.The main innovations of this paper are as follows: First,on the basis of considering spatial effects,the SDM model is used to statistically analyze the influencing factors of inclusive financial development,the research method is more scientific and the conclusion is more reliable.Second,for the first time,the Kernel density estimation method of non-parametric and the panel data spatial convergence measurement model of the parameter method are used simultaneously to study the spatial distribution and convergence difference of inclusive financial development.