Research On Countermeasures And The Factors Affecting Financial Exclusion In Heilongjiang Province

With the continuous advancement of the economy and society,the financial industry has developed,but financial services have not achieved the coverage of the whole society.Financial exclusion still exists.Some economically disadvantaged and geographical ly remote people still cannot enjoy financial services fairly.In recent years,in order to overcome a series of contradictions such as weak economic development caused by financial exclusion,large urban-rural income gap,and poverty amplification effect,China has gradually turned to inclusive development and proposed the concept of inclusive finance.In 2016,the “Promoting Inclusive Financial Development Plan(2016-2020)” was promulgated,and in 2017,the establishment plan for the Inclusive Financial Business Unit of large and medium-sized commercial banks was formulated.It can be seen that solving the problem of financial exclusion and building an inclusive financial system have become the focus of national attention.However,due to the lack of effective collateral for vulnerable groups such as farmers,small and micro enterprises,and poor people,coupled with the imbalance of financial resources allocation,these low-value groups have greater access to the funds needed for production and operation.The difficulties are not conducive to the development of precision poverty alleviation,and further affect the improvement of income and economic development.In the context of slow economic growth,Heilongjiang Province is also facing financial exclusion problems,and financial services gaps still exist in certain regions.Therefore,solving the problem of financial exclusion is imminent,not only the core link of building a modern economic system,but also the difficulty of carrying out inclusive financia l undertakings.Moreover,selecting the influencing factors of research financial exclusion in Heilongjiang Province is conducive to weakening the phenomenon of financial exclusion within the province,improving the coverage of financial services,achievin g effective financial poverty alleviation,and promoting the narrowing of the urban-rural income gap.Based on the concept of financial exclusion,a series of theoretical basis and the formation mechanism of financial exclusion,this paper introduces the basic situation of financial exclusion in Heilongjiang Province from the aspects of geographical level,evaluation angle,conditional restriction,marketing scope,price environment and user self-awareness.At the same time,construct the Financial Exclusion Index(IFE),measure the level of financial exclusion in Heilongjiang Province with the statistics of Heilongjiang Province for nearly 27 years,and conduct a longitudinal comparative analysis of the results.Secondly,based on the theoretical hypothesis of the factors affecting financial exclusion in Heilongjiang Province,with the construction of VAR model,using co-integration test,impulse response function and variance decomposition to explore the influencing factors of financial exclusion in Heilongjiang Province,and provide ideas and directions for further countermeasures.To this end,combined with qualitative and quantitative analysis,this paper proposed countermeasures to weaken financial exclusion from the three perspectives of supply,demand and external environment.Mainly to continue to build a diversified inclusive financial system as the core,accurately locate the financial needs of the participating entities in the market,extend the scope of financial services,and innovate the financial service model.At the same time,focus on raising the income level of low-value groups,build a social assistance mechanism centered on government guidance to continuously promote finance more inclusiveness,and gradually eliminate financial exclusion.