| According to a meeting of the 13 th National People's Congress in henan province,the province's GDP reached 4.5 trillion yuan in 2017.GDP grew at an average annual rate of 8.4 percent.That's 1.3 percentage points above the national average.The total revenue was about 520 billion yuan,an average annual increase of nearly 10 percent.Therefore,the economic development momentum of henan province is good.The economic development of our province initially emerged from the high growth stage.Gradually begin to move towards high quality development stage.By the end of 2017,there were 2.21 million poor people and 3,723 poverty-stricken villages in henan province.In 2018,henan province will continue to push forward the precise anti-poverty work.We will strive to ensure the stable poverty of 1.1 million rural poor.19 national and 14 provincial poverty-stricken counties lifted their hats.Due to the large number of poor people in henan,the task of poverty alleviation is very difficult.Therefore,we should actively carry out the country's policy of precise poverty,and continue to promote poverty alleviation.We will strive to lift poverty out of poverty at an early date.The level of economic development in henan province is constantly improving.At the same time,the work of poverty alleviation has achieved remarkable achievements.This paper puts forward the proposition that the financial development of henan province affects poverty alleviation.To examine the relationship between financial development and poverty reduction in henan province.Based on the relevant research results,this paper constructs the mechanism of financial development on poverty alleviation.The panel data of 18 cities in henan province from 2007 to 2016 were selected.Based on the actual situation of henan province,the impact of financial development in henan province on poverty reduction was verified.First of all,it shows the financial development and people's living conditions in henan province and compares them with figures and charts.Secondly,the literature on financial development and poverty alleviation is summarized.In the foreign literature review,different sample data and estimation methods are used to draw different conclusions.The main conclusion is that there is a linear or nonlinear relationship between them.Domestic research on financial development poverty reduction is also expressed in different views.Mainly from the national level,local provinces and cities and eastern and western regions,to study the financial development poverty reduction effect.Finally,the author explains the relevant mechanism of financial development affecting poverty alleviation.In the static panel data,the mixed regression,fixed effect model and random effect model are used to analyze the static panel data.In the choice of fixed effect model or stochastic effect model,the Hausman test is used to judge.The fixed effect model was selected by inspection.At the same time,the stepwise regression method is used to analyze the fixed effect regression.In financial development scale(fins),financial development efficiency(fine),income distribution(income)and economic growth(eco)variable are four core solution,on the basis of fiscal policy(fiscal)gradually increase the control variables,the ministry of foreign trade(trade),the urbanization level(urban)and the indices such as education level(edu).By adding multiple control variables,we examine the robustness of financial development to reduce the impact of poverty.The results show that the financial development of henan province can effectively alleviate poverty.In addition,the panel data of 18 prefecture-level cities in henan province were analyzed in dynamic panel from 2007 to 2016.Using the system GMM estimation equation,the impact of the financial development scale of henan province on poverty alleviation is more significant.The conclusion is not very different from the fixed effect analysis in the static model.It is proved that the scale of financial development in henan province can effectively reduce poverty.In the analysis of fixed effect,the coefficient of financial development efficiency in henan province is positive and significant.In the estimation of system GMM,the coefficient of financial development efficiency in henan province is negative and significant.It is stated that the impact of financial development efficiency on poverty alleviation is uncertain.The estimated results show that the estimates of fiscal policy and urbanization level are significantly positive.The coefficient on foreign trade and education input is negative.Some scholars adopted Granger causality test.Some scholars also use time series analysis and other statistical methods.In this paper,the fixed effect and system GMM model of the panel data of henan province are carried out,and the conclusion is similar to that of other scholars.The conclusion is drawn from other scholars' research on national or provincial level.At the same time,it enriches the research achievements of financial development and poverty alleviation,and also has important significance to the theory of financial development.The implementation of the precise poverty policy for henan province provides the support of theory and practice.The research results of this paper also have some guiding significance for the financial development and poverty alleviation in henan province.In summary,using the panel data of 18 cities in henan province,it is estimated by the fixed effect and system GMM model that the financial development of henan province can effectively reduce poverty.The financial development of henan province can directly alleviate poverty.It also alleviates poverty through economic growth and income distribution.The rapid economic growth of henan province is conducive to reducing poverty,and the continuous optimization of income distribution also improves people's life happiness.The study on the relationship between financial development and poverty alleviation in henan province has a statistical significance.At the same time,it has certain economic and policy significance. |
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