Research On The Impact Of Rural Financial Development In Western Region On Farmers' Income Growth

Based on the panel data of provinces in the western region from 2000 to 2017,this paper uses panel fixed-effect models and panel quantile models to empirically test the effects of rural financial development on farmers' income growth from the perspective of income sources and income quantiles.influences.The rural financial development scale,financial resource distribution,rural deposits,and agricultural insurance indicators were selected as the core explanatory variables,and indicators such as fiscal support for agriculture,urbanization rate,and per capita GDP were controlled.On this basis,the contribution of changes in the source of farmers 'income structure is measured to test the impact of rural financial development on the growth of farmers' income in the western region.The results of the study are as follows:(1)The overall income of farmers in the western region has increased year by year,but the income growth within the region has shown uneven development.The per capita disposable income of farmers in Chongqing,Sichuan and Shanxi provinces is higher than that in other provinces,municipalities and autonomous regions,while the income of farmers in ethnic minority autonomous regions has grown relatively slowly.From the perspective of the source structure of peasant income in the western region,the main manifestations are that operating income and wage income occupy an important position in peasant income,but since 2013,transfer income has shown a rapid and temporary increase.(2)The development of rural finance in the western region has promoted the growth of farmers' income.Among them,every 1% increase in the scale of rural financial development will increase farmers' income by 0.27%.The elasticity coefficient of rural deposits on the growth of farmers' income is 0.04,which means that every 1% increase in rural savings,Farmers 'income will increase by 0.04%;for every 1% increase in the number of operating points of financial institutions,farmers' income will increase by 0.21%.Agricultural insurance has a positive impact on farmers 'income.For every 1% increase in agricultural insurance,farmers' incomeincreases by 0.02%(3)From the perspective of income quantile,rural financial development in the western region has a positive impact on the income of farmers in different quantiles.Specifically,from the impact of the scale of rural financial development on farmers' income,the coefficients of the scale of rural financial development at different quantiles increase with the increase of quantiles.From the perspective of the impact of rural deposits on farmers' income,Under the low income quantile,rural deposits have a greater impact on farmers 'income,while under the high income quantiles,its promotion effect is smaller;from the perspective of the impact of the number of financial institutions on farmers' income,in the low quantile,medium Under the quantile and high quantiles,the results all show positive coefficients and have a relatively stable effect on farmers 'income;while the impact of agricultural insurance on farmers' income varies greatly.When the income is in the low quantile,agricultural insurance has a negative impact on the increase of farmers 'income.In the middle and high quantiles,agricultural insurance will promote the growth of farmers' income,and the effect is not very significant.(4)In the structure of farmers 'income sources,the increase in operating income and wage income contributed the most to the increase in farmers' income,and the growth rate of transfer income after 2014 has been temporary.Due to the strong stability of operating income and wage income,and the growth of operating income is mainly driven by credit funds,rural financial development has a long-term role in promoting farmers 'operating income and wage income growth.Financial development affects farmers' income Growth has long-term effects.