Research On The Influence Of Inclusive Finance Development On County Economic Growth In Hunan Province

Since the concept of "inclusive finance" was proposed in 2005,it has attracted extensive attention and heated discussion in the academic circle.In December 2015,it was included in the national development strategy of promoting inclusive finance advancement plan 2016-2020 issued by the state council.County economy is the backbone of county society and the key to solve the problems of agriculture,rural areas and farmers.As a large agricultural province in central China,county economy accounts for a large proportion in hunan province.Keeping steady growth of county economy is the key to the economic development of hunan province.Finance is the core of modern economy.We can expand the scope of financial services and improve the vitality of the county economy by developing inclusive finance.Therefore,it is of practical significance to study the relationship between Inclusive Finance and county economic growth in Hunan Province.Firstly,This paper combs the relevant research results of the academic circles,based on this,discusses the path of inclusive financial advancement affecting economic growth theoretically.Then we collected the economic and financial data of 87 counties(cities)in Hunan Province from 2013 to 2016.We construct the inclusive financial level measurement system by using the coefficient of variation method and calculate the inclusive financial index of each region in Hunan Province from 2013 to 2016.Studies have shown that the level of inclusive finance in various regions of the province has continued to increase in 2013-2015,with a slight decline in 2016 and a low overall level.In terms of regions,the Chang-Zhu-Tan Area far exceed other areas,reflecting a large gap in the level of inclusive finance between counties in Hunan Province.After measuring the inclusive financial index of various regions in Hunan Province,based on the panel data,an empirical analysis of the impact of Hunan's inclusive financial advancement on county economic growth was conducted.The empirical results show that from the overall perspective of Hunan Province,the advancement of inclusive finance plays a significant role in promoting county economic growth.In terms of regions,the advancement of inclusive finance in the Chang-Zhu-Tan Area and XiangXi Area has played a significant role in promoting county economic growth.Finally,based on the empirical results,this paper integrates the development of counties in Hunan Province and gives relevant policy recommendations.