Research On Impact Of Digital Inclusive Finance On Rural Residents’ Income Structure

With the continuous implementation of the rural revitalization strategy,the industrial structure in rural areas is continuously optimized,and the transformation and upgrading of agricultural products processing industry is accelerating,which provides important support for the increase of rural residents’ income.At the same time,due to the government’s attention to the issues of "agriculture,rural areas" and the implementation of the policy of benefiting agriculture,the sources of income of rural residents have become more and more rich,but the stability of their sources of income varies greatly.At present,our economy is in the critical period of digital transformation.A new round of digital technological transformation is constantly changing our lives,and rural residents are facing the impact of science and technology.In 2016,the People’s Bank of China actively promoted the development of digital inclusive finance.Digital inclusive finance can effectively relieve the pressure of high cost and low coverage of traditional inclusive finance,increase the coverage area of inclusive finance in remote areas,and play the role of inclusive finance in poverty reduction.At the end of 2019,the epidemic had a certain impact on China’s national economic income,and rural residents faced major challenges in steadily increasing their income.This paper firstly combs and summarizes domestic and foreign literatures related to digital inclusive finance and rural residents’ income structure,and accurately grasp the current situation by referring to China Rural Statistical Yearbook and China Inclusive Finance Index System issued by the People’s Bank of China.Secondly,using the fixed effect to regression 31 provinces and explore the impact of digital inclusive finance on the income structure of rural residents in different regions.On this basis,the paper summarizes the mechanism of rural residents’ income structure affected by digital financial inclusion.Finally,it discusses the effects of digital inclusion finance on the income structure of rural residents in the whole sample and in different regions,and further discusses its effects on the income structure of rural residents with the help of the sub-indicators of digital inclusion finance.Finally,the paper puts forward some policy suggestions to promote rural residents’ income and improve income structure.The results show that:(1)Since 2011,under the background of accelerating digitization process and popularization of Internet technology,the digital transformation of inclusive finance in China has been continuously promoted,and its development is in a leading position in the world.The income of rural residents has grown steadily,and its income sources have changed from business income to wage income,supplemented by other income sources.Among them,the proportion of transferred income has also increased with the deviation of policy subsidies to rural areas.(2)The national fixed regression model shows that the popularization of digital inclusive finance in rural areas has an obvious positive promoting effect on the per capita total income,wage income,household operating income,property income and transfer income of rural residents.Among them,the deepening of the use of digital inclusive finance has the most obvious effect on the promotion of wage income,and the improvement of coverage and digital services has a good effect on the promotion of transfer income.(3)The results of the regional test show that the promotion effect of digital inclusive finance on the income sources of rural residents varies greatly in different regions,and the positive promotion effect is prominent in the central region with relatively perfect infrastructure and the western region with relatively backward economic development.In the eastern and northeastern regions where the economic development is common,the promotion effect is relatively ordinary,which reflects the inclusion of inclusive finance and poverty reduction.Based on the above conclusions,this paper puts forward the following suggestions: strengthen the construction of rural Internet and mobile Internet infrastructure,and play the role of digitalization in promoting rural finance;Pay attention to the income structure of rural residents,improve the income through multiple channels;Strengthen supervision,improve policies,and promote the effective development of digital inclusive finance in rural areas.