Digital Inclusive Finance,Non-agricultural Employment And Happiness Of Rural Residents

Happiness is the goal of human endeavor,the driving force for the progress of social civilization,and the starting point and goal of the Party and the state to govern for the people.With the development of the country and the progress of the society,people also begin to pay more attention to their own feelings of happiness.To improve people’s well-being and the happiness of our residents,we must focus on the farmers who have long been the majority in our country.Digital inclusive finance has changed the dilemma that farmers’ financial needs cannot be fully met under the traditional financial system.It truly fulfills the inclusive goal of financial services,promotes equal opportunities,and brings more benefits to rural residents and other vulnerable groups.Employment is the foundation of people’s livelihood.For farmers who take non-agricultural work as their main source of income at present,non-agricultural employment is closely related to their vital interests.Therefore,based on financial innovation,financial inclusive growth,hierarchy of needs,Ranise-Fei Jinghan theory and Todaro population mobility model,this study studied the relationship among digital inclusive finance,non-agricultural employment of farmers and happiness of rural residents on the basis of the review of relevant literature,defined the concepts of farmer happiness and proposed corresponding research hypotheses.Then,empirical analysis was conducted on the basis of theoretical research,and the data of China General Social Survey(CGSS)in 2017 and Peking University Digital Financial Inclusion Index were used as data sources.By using Ordered Probit model,the effects of digital inclusive finance and non-agricultural employment on rural residents’ happiness were investigated respectively.The robustness test is conducted by changing different regression methods and reducing samples.Meanwhile,the relationship between digital financial inclusion,non-agricultural employment and the improvement of farmers’ happiness level is discussed by using the analysis method of intermediary effect test.Finally,it analyzes the difference of digital financial inclusion effect among different types of rural residents.The results show that digital inclusive finance and non-agricultural employment both play a significant role in promoting the well-being of rural residents.In the process that digital inclusive finance affects the happiness level of rural residents,non-agricultural employment plays an intermediary role.The effect of digital financial inclusion is different among different types of farmer groups,and has a relatively great impact on the happiness of female,low-educated and elderly rural residents.Based on the above conclusions,the research puts forward relevant policy recommendations on the continuous development of digital inclusive finance,in order to promote the happiness level of rural residents: support the innovative development of digital inclusive finance and create a favorable external environment for related technological innovation;Efforts are made to develop the depth of use and digitization of digital inclusive finance and give full play to its inclusive characteristics;Pay attention to the improvement of digital financial literacy of rural residents,in order to give full play to the maximum effect of digital inclusive finance;We will give full play to the advantages of digital inclusive finance and support non-farm employment for rural residents.