Research On The Impact Of Digital Inclusive Finance Development On Farmers’ Income In Gansu Province

Digital Inclusive Finance aims to change the management concept of traditional finance and provide inclusive financial services for financial demanders with more open,inclusive and inclusive financial services.Digital Inclusive Finance realizes the combination of science and technology and finance,which enables poor areas to obtain more financial resources,enhance the availability of financial services,broaden financial coverage and improve the efficiency of financial services with the help of digital technologies such as the Internet.It is the starting point and foothold of the work of "agriculture,countryside and farmers" to increase farmers’ income and enhance their sense of acquisition,happiness and security.The problem of farmers’ income is the key to the "three rural issues".For a long time,our party and our country have focused on increasing farmers’ income.The development of digital inclusive finance can effectively solve the problems of information asymmetry and financial exclusion of farmers in traditional finance,and change the current situation of "three rural" financing difficulties.This paper combines the actual development of digital inclusive finance in China.Based on the existing research results,this paper takes prefecture-level cities(autonomous prefectures)in Gansu Province as an example to further explore the impact of the development of digital inclusive finance on farmers’ income.Based on the reality of the development of digital inclusive finance in Gansu Province,this paper uses the digital inclusive finance development index of the Digital Finance Research Center of Peking University from 2011 to 2021 and the panel data of14 prefecture-level cities(autonomous prefectures)in Gansu Province.The fixed effect model,panel quantile regression,mediating effect model and other empirical tests are used to analyze the impact of digital inclusive finance on farmers’ income in Gansu Province.This study found that:(1)The development of digital inclusive finance in Gansu Province can significantly improve the income level of farmers.At the same time,the first-level indicators of digital inclusive finance,namely the coverage,the depth of use and the degree of digitalization,can significantly increase farmers’ income,and there are differences in the impact of the three classified indicators of digital inclusive finance on the disposable income of rural residents,and the effect of the depth of use of digital Inclusive Finance on the increase of rural residents’ income is stronger than that of the degree of digitalization and coverage.(2)The regression results based on the structure of farmers’ income show that the development of digital inclusive finance in Gansu Province has a positive effect on the wage income,net operating income and net transfer income of farmers’ income,and the order of the impact of the development of digital inclusive finance on these three factors is wage income > net transfer income > net operating income.However,the development of digital inclusive finance in Gansu Province has not played a significant role in promoting the net income of property in farmers’ income,which may be due to the low financial literacy of farmers in Gansu Province.Digital Inclusive Finance needs further in-depth development.(3)The results of mediating effect test show that the development of digital inclusive finance in Gansu Province can increase farmers’ income by promoting economic development in rural areas and improving income distribution.(4)There is heterogeneity in the promotion effect of the development of digital inclusive finance on farmers’ income in Gansu Province.Farmers with different income levels can benefit from the development of digital inclusive finance,but the lower the income level,the more obvious the promotion effect.In view of the above conclusions,this paper puts forward four suggestions:strengthening the construction of digital financial infrastructure in rural areas;strengthening the innovation of digital financial products;improving farmers’ financial literacy;promoting the balanced development of urban and rural areas.