| In 2020,China achieved a comprehensive victory in the battle against poverty and achieved the goal of building a moderately prosperous society in all respects,while at the present stage,China’s main goal on agriculture,rural areas and farmers is to consolidate the link between poverty alleviation and rural revitalization.As inclusive finance,it is committed to providing more financial services for rural residents;At present,there are two modes of inclusive finance in China,traditional inclusive finance and digital inclusive finance,but there are still problems such as imbalance between supply and demand of inclusive finance.In the context of China’s efforts to promote rural revitalization,it is of great theoretical and practical significance to study the impact of inclusive finance development on rural revitalization.Most studies on traditional and digital inclusive finance are one-sided.This paper introduces the concept of comprehensive inclusive finance,combines traditional and digital inclusive finance,and studies the relationship between comprehensive inclusive finance and rural revitalization from both theoretical and empirical perspectives.In the theoretical level,the paper analyzes the mechanism of comprehensive inclusive finance development on rural revitalization with the help of credit rationing function model and dual economic structure model,and puts forward two hypotheses that comprehensive inclusive finance can promote rural revitalization by narrowing urban-rural income gap and optimizing industrial structure.In the empirical aspect,the comprehensive inclusive finance evaluation index system has been established from two dimensions of traditional inclusive finance and digital inclusive finance,and the rural revitalization evaluation index system has been established from five dimensions of industrial prosperity,ecological livable,civilization,effective governance,and rich life.Entropy method is used to measure the development level of comprehensive inclusive finance and rural revitalization in 31 provinces and autonomous regions from 2011 to 2020.The panel data regression model is used to empirically analyze the relationship between comprehensive inclusive finance and rural revitalization in different dimensions and regions.Finally,the theoretical hypothesis is verified by the mediating effect model.The results show that:First of all,by measuring the development level of comprehensive inclusive finance and rural revitalization,it is found that the development level of comprehensive inclusive finance and rural revitalization shows a rising trend from 2011 to 2020.In terms of comprehensive inclusive finance development,the development level of eastern China is significantly higher than that of central and western China,and the development level of central and western China is relatively similar,and the overall development trend is relatively stable.The comparative analysis of traditional and digital inclusive finance shows that the development of traditional inclusive finance has slowed down while that of digital inclusive finance has developed steadily.In terms of rural revitalization and development,the development level of the eastern,the central and the west is ranked from high to low.Secondly,the empirical results show that comprehensive inclusive finance,traditional inclusive finance and digital inclusive finance all play a significant role in promoting the development of rural revitalization.Among them,comprehensive inclusive finance has the best promotion effect on rural revitalization,while digital inclusive finance has the worst.Through regional heterogeneity analysis,it is found that comprehensive financial inclusion and digital financial inclusion have a significant effect in the eastern,central and western regions,while traditional financial inclusion has a significant effect in the eastern and central regions,but not in the western region.Finally,through the analysis of the mediating effect model,it can be concluded that comprehensive inclusive finance helps to narrow the urban-rural income gap and optimize the industrial structure,and the urban-rural income gap and industrial structure play a mediating effect on the rural revitalization of comprehensive inclusive finance. |
