| The digital economy is the mainstream trend of the current global economic development.Relying on advanced Internet technology,it empowers various innovative activities in fields such as digital finance.At the same time,the party and the government will increase farmers’ employment and entrepreneurial opportunities,broaden farmers’ income-increasing channels,and promote farmers’ income growth as the focus of solving the "three rural" issues.Since the reform and opening up,the income of rural residents in my country has increased rapidly,and the income gap between urban and rural residents has gradually narrowed.However,compared with other countries,the income gap between urban and rural residents in my country is still at a relatively high level,and the income level of rural residents is still low.At present,rural economic development and farmers’ income growth are sluggish,and it is necessary to seek new economic growth boosters to further stimulate the vitality of rural development and promote the continuous increase of rural residents’ income.The rapid development of digital finance in various industries may bring new opportunities to increase farmers’ income.On the one hand,digital finance can provide more convenient financial services and improve the efficiency of resource allocation in rural areas.At the same time,Internet technology has a profound impact on the development of agricultural production in terms of information dissemination and agricultural factor allocation,and has a direct impact on the increase of rural residents’ income.On the other hand,the development of digital finance generates more entrepreneurial opportunities and reduces the cost of starting a business for rural residents.The development of the digital industry also provides rural residents with more opportunities for non-agricultural employment.The indirect effect promotes the increase of rural household income.In view of this,this paper focuses on analyzing the impact and mechanism of the digital economy on the growth of rural household income from the aspects of digital finance and household Internet use,so as to provide a policy basis for promoting the growth of rural household income.First of all,based on the new economic growth theory,financial development theory,rural financial theory and other related theories,this paper analyzes the direct impact of digital finance on rural household income and the indirect impact of digital finance on household income by affecting family off-farm employment and entrepreneurial decision-making,and put forward research hypotheses.Secondly,referring to the existing literature,this paper combines the China Family Tracking Survey(CFPS)data with the digital inclusive financial development index,builds a fixed effect model to empirically test the impact of digital finance on the growth of rural household income,and builds a mediation effect model and a Probit model etc.examine the mechanism of digital finance through influencing household non-agricultural employment and entrepreneurial decision-making to promote household income,and conduct an extended discussion on the impact of digital finance on land transfer.Finally,based on the conclusions,policy recommendations for the development of digital finance to promote the growth of rural household income are put forward.The research found that: First,digital finance has a significant positive impact on the growth of the total income of rural households.From the perspective of income composition,the digital economy has a positive impact on household operating income and wage income,and the degree of influence varies from region to region.difference.Second,digital finance can promote non-agricultural employment of rural households.Families with different levels of education and income levels are affected to different degrees;digital finance can increase household wages by increasing non-agricultural employment opportunities for rural households Income,so as to promote the growth of total household income.Third,digital finance has a significant positive impact on rural residents’ family entrepreneurial decision-making,and there are heterogeneities in different levels of education and income;digital finance can provide rural residents with more opportunities for entrepreneurship and employment,and promote rural residents Make land transfer decisions.Compared with the existing research,the innovation of this paper lies in three aspects: first,the research perspective is new.Starting from the composition of rural household income,this paper explores the overall effect and structural impact of digital finance on rural household income,and further systematically reveals its mechanism from the perspective of employment and entrepreneurship.Second,the research content is new.This paper takes "the number of household non-agricultural employment" as an intermediary variable,and uses the intermediary effect model to verify the channel through which digital finance can promote family non-agricultural employment and then increase family wage income,and analyzes the basis of the entrepreneurial effect of digital finance An extended discussion of its effect on family land transfer decisions was made above.Third,policy recommendations are new.This paper puts forward policy suggestions from four aspects: strengthening the construction of digital infrastructure,promoting the digital transformation of rural financial institutions and financial service innovation,improving the financial literacy of rural residents,and smoothing the circulation channels of urban and rural factors.The perspectives are rich and effective supplements to existing research. |
