Research On The Influence Of Digital Inclusive Finance On The Return Of Rural Labor Force

The 20th Party Congress in 2022 pointed out the need to comprehensively promote the rural revitalization strategy,continue to adhere to the priority development of agriculture and rural areas,smooth the flow of urban and rural elements,solidly promote the revitalization of rural industries and talents,and improve the rural financial services system.Talent is the key to rural revitalization.With the national policy tilting toward the "three rural areas" and the continuous improvement of production and living conditions in rural areas,there is a return of rural labor force.The returning rural labor force has broader vision,rich experience,and stronger entrepreneurial and innovative ability,and is a new force for rural revitalization.With the application of digital technology and the construction of an inclusive financial system,the development of digital inclusive finance has eased the financial exclusion of the"three rural areas",solved the painful point of loan difficulties that restricts the development of rural industries,and promoted the development of rural industries.A thriving rural industry can provide a large number of non-agricultural jobs,which can both absorb surplus rural labor and attract rural labor back to employment and entrepreneurship,so does the development of digital inclusive finance promote the return of rural labor?What is the mechanism of impact?What are the heterogeneity patterns?In the context of comprehensively promoting rural revitalization,the answers to the above questions have important theoretical and practical significance for promoting the development of digital inclusive finance in rural areas and promoting the revitalization of rural talents.To answer the above questions,this paper firstly compares the current situation of digital inclusive finance and rural labor force return,and conducts a theoretical analysis of digital inclusive finance affecting rural labor force return based on the existing basic theories and China’s historical experience.Then an empirical test is conducted using China Labor Force Dynamics Survey data(CLDS)and Peking University Digital Inclusive Finance Index,followed by mechanism analysis and heterogeneity analysis.Finally,policy recommendations are proposed based on the empirical results.The study finds that,first,digital inclusive finance has a significant positive effect on rural labor force return,and this result still holds after robustness tests in multiple ways.Second,digital inclusive finance is attracting labor force return by facilitating rural labor force to achieve non-farm employment in the region.Third,digital inclusive finance significantly facilitates the return of rural labor in the eastern and central regions,but has not yet had a significant impact on the western region;digital inclusive finance has a more significant impact on the labor force that retains land or housing in their hometowns.The innovations of this paper r as follows.First,the research perspective is innovative.Some scholars have begun to study the impact of digital inclusive finance on labor mobility.On this basis,this paper further analyzes the impact of digital inclusive finance on the return flow of rural labor by using the data of China Labor Force Dynamics Survey and digital inclusive finance index to study the labor force with mobility experience in rural areas.Second,the research content is innovative.This paper empirically examines the impact of digital inclusive finance on rural labor force return and its impact mechanism,as well as the heterogeneity of this impact in different regions and whether the labor force’s hometown is still a reservation or housing,enriching the research on the impact factors of rural labor force return.