Research On The Influence Of Digital Inclusive Finance On Farmers’ Income

By the end of 2020,China has successfully achieved comprehensive poverty alleviation,and then our country will enter a development stage with the main theme of "solving relative poverty and spiritual poverty","preventing people out of poverty from returning to poverty" and "realizing rural revitalization".In order to promote rural revitalization and the continuous development of digital inclusive finance,we need to focus on how to further improve farmers’ income.With the integration of digital technology and financial services,the concept of digital inclusive finance is rising gradually.how to combine digital inclusive finance with farmers’ income to increase farmers’ income and realize rural revitalization is the basic direction of the future "three rural" policy.Based on the above background,this paper first expounds the related concepts and theoretical basis of digital inclusive finance and farmers’ income,and then analyzes its influence mechanism and current situation.Then select the panel data of 30 provinces and cities from 2011 to 2019 and Peking University digital inclusive financial index,using threshold model and spatial econometric model to empirically analyze the impact of digital inclusive finance on farmers’ income.The empirical results of the threshold model show that when digital inclusive finance is used as a threshold variable and its three sub-dimensions as threshold variables,it can obviously promote farmers’ income.Digital inclusive finance,coverage breadth and depth of use all have a double threshold effect,and the digitization degree has a single threshold effect.When economic growth is used as a threshold variable,digital inclusive finance and its three sub-dimensions have a significant promoting effect on farmers’ income,and there is a double threshold effect.When human capital is used as a threshold variable,digital inclusive finance and its three sub-dimensions can promote the increase of farmers’ income,and digital inclusive finance has a single threshold effect on farmers’ income.the three sub-dimensions of digital inclusive finance have a double threshold effect on farmers’ income,in which the promoting effect of digitalization on farmers’ income increases at first and then decreases.The empirical results of spatial econometric model show that there is a significant positive spatial spillover effect between digital inclusive finance and farmers’ income,and the direct effect is significantly positive,and the indirect effect is negative but not significant.Digital inclusive finance has a significant positive spatial spillover effect on farmers’ non-agricultural income,but there is no spatial spillover effect on farmers’ agricultural income.In the sub-dimension of digital inclusive finance,the breadth of coverage and depth of use have significant positive spatial spillover effects on farmers’ income,and the degree of digitization has negative spatial spillover effects on farmers’ income.In the sub-region,there is a significant positive spatial spillover effect in the western region,a lag in the eastern region,while the spatial spillover effect in the central region is not obvious.Therefore,according to the results of empirical analysis,six countermeasures and suggestions are put forward to improve the construction of rural digital inclusive financial infrastructure and increase investment in rural human capital.Six countermeasures and suggestions are to promote the upgrading of industrial structure,strengthen regional cooperation,formulate relevant policies in accordance with local conditions,and improve rural financial supervision,so as to improve farmers’ income.