Research On The Impact Of The Use Of Digital Finance On Farmers’ Entrepreneurial Behavior

Under the background of "mass entrepreneurship and innovation",farmers’ entrepreneurship is one of the ways to realize rural revitalization.With the development of rural economy,farmers’ demand for finance is increasing day by day.However,traditional financial services have serious phenomenon of financial exclusion,and farmers’ necessary financial needs cannot be satisfied,which has become one of the factors hindering farmers’ entrepreneurship.With the deep integration of Internet,big data and other modern digital technologies with traditional finance,digital finance is gradually popularized.Digital finance has advantages of convenience and low threshold that traditional finance does not have,alleviates financial constraints,improves financial support for farmers,and becomes a new solution to solve the financial needs of rural residents for entrepreneurship.Therefore,it is of great significance to realize the rural revitalization strategy to explore the impact of the use of digital finance on farmers’ entrepreneurial behavior.Existing studies have proved that finance is one of the important factors affecting farmers’ entrepreneurship.As a new financial model,there is still a lack of research on the influence and mechanism of digital finance on farmers’ entrepreneurial behavior from the perspective of farmers’ use.Based on the above premises,this paper uses the data of China Household Finance Survey(CHFS)in 2017 to conduct descriptive statistical analysis and crossover analysis on the characteristics of farmers,the current situation of digital finance use and the current situation of farmers’ entrepreneurship on the basis of theoretical analysis.Then Probit and IV-probit models were used to empirically analyze the impact and mechanism of the use of digital finance on farmers’ entrepreneurial behavior,and finally explore the heterogeneity of the impact of the use of digital finance on farmers’ entrepreneurial behavior.In order to enrich the research in this field,to give full play to the potential of rural digital finance,improve the probability of entrepreneurship farmers to provide a theoretical basis.The main conclusions of this paper include: First,the proportion of farmers’ digital finance utilization rate and entrepreneurship rate is low at present.Second,the use of digital finance can promote the entrepreneurial behavior of farmers.After controlling the potential endogenous problems,the estimated coefficient is still significantly positive.In addition,farmers’ age,education level,working experience,marital status,health status,family size,proportion of labor force in the family,family income,social capital and location also have an impact on farmers’ entrepreneurial behavior.Thirdly,the results of mechanism test show that digital finance can promote the entrepreneurial behavior of farmers subject to credit constraint more significantly;Digital finance plays a more significant role in promoting the entrepreneurial behavior of farmers with high cost of financial services.Fourth,the results of heterogeneity analysis show that digital finance has a significant promoting effect on the entrepreneurial behavior of farmers with junior high school education or below and high school education or above;However,digital finance plays a greater role in promoting entrepreneurial activities of highly educated farmers;Digital finance has a more significant effect on the entrepreneurial behavior of farmers with low household income.Digital finance plays a significant role in promoting the entrepreneurial behavior of farmers in eastern,central and western regions.However,digital finance plays a greater role in promoting farmers’ entrepreneurial activities in the central and western regions.Digital finance has a promotion effect on both subsistence entrepreneurship and opportunity-based entrepreneurship,but the promotion effect on opportunity-based entrepreneurship is more significant.Based on the above research conclusions,this paper puts forward the following policy suggestions:(1)Improve farmers’ ability to use digital finance;(2)Continuously promote the construction of rural digital finance;(3)Expand the coverage of rural digital financial services;(4)Integrate financial resources to carry out entrepreneurial activities.