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

Raising the income level of farmers is one of the core of rural revitalization,and is also the central issue and key task in the field of "agriculture,rural areas and farmers".To achieve this goal,the key is to provide adequate and effective financial services,but the traditional financial model under the cost and service radius constraints,resulting in insufficient supply of financial services in rural areas,high costs and other conditions difficult to improve.According to the National Bureau of Statistics,the per capita disposable income of Chinese farmers increased from 6,977.3 yuan in 2011 to18,931.00 yuan in 2021,an increase of nearly 2.71 times.Among them,wage income,household operating income,property income and transfer income have increased by2.7,2.04,2.05 and 7.00 times respectively.Traditional finance can no longer meet farmers’ demand for income growth.Different from the traditional mode,digital inclusive finance,as one of the most active fields in the era of digital economy,has realized the effective combination of traditional financial institutions and Internet business with the help of information technology,giving birth to new financial services such as Internet financing,payment and investment,and increasing the coverage and penetration rate of existing financial services.It not only benefits rural residents who are excluded by traditional financial institutions and services,but also improves the allocation efficiency of financial resources.It also helps to provide farmers with multiple channels to increase their income and narrow the digital divide.With the increasing diversification of farmers’ income structure,farmers’ income also depends more and more on the optimization of industrial structure and the expansion of source channels.In view of this,this paper follows the logic of putting forward research questions,theoretical elaboration and current situation analysis,empirical testing and policy suggestions,and analyzes the impact results,action mechanism and spatial effects of digital inclusion finance on farmers’ income from the perspective of digital inclusion finance.This study mainly includes the following seven chapters.The first chapter is the introduction,which aims to explain the background,significance,research ideas and research methods of this paper,briefly introduce the research structure of this paper,show the technical roadmap,and finally explain the innovation and shortcomings of this paper.The second chapter is literature review.Firstly,it summarizes the concepts of digital inclusive finance and farmers’ income.Secondly,it sorts out relevant researches on the two from different perspectives,and determines the research focus of this paper on the basis of literature review.In Chapter 3,theoretical analysis and hypotheses of the study,the theoretical basis and hypotheses of digital inclusive finance in terms of total effect,impact mechanism and spatial effect are analyzed through the theories of financial inclusive growth and financial exclusion,information asymmetry,etc.In Chapter 4,we analyze the current situation of digital financial inclusion development and farmers’ income through graphs and charts,and then briefly summarize and sort out the relationship between them.The fifth chapter is empirical design.Firstly,the dependent variable of this study is determined to be the per capita disposable income of farmers and its income structure,and the independent variable is the digital financial inclusion index and its sub-dimension index,and the general effect,intermediary effect and spatial effect models are established for testing.Chapter six is the analysis of the empirical results.The results show that:(1)Digital financial inclusion can significantly improve farmers’ income.By analyzing the heterogeneity of farmers’ income structure,it is concluded that digital inclusive finance has beneficial effects on farmers’ income,among which the promotion effect on wage income is the largest.By analyzing the heterogeneity of the sub-dimensions of digital inclusion finance,it is concluded that the three sub-dimensions of digital inclusion finance all have positive promoting effects on farmers’ income.Through the analysis of regional heterogeneity,digital financial inclusion has a significant promoting effect on farmers’ income in the eastern,central and western regions,and its promoting effect decreases successively.(2)In order to explore the transmission mechanism between digital inclusion finance and farmers’ income,through testing the intermediary effect,it is found that economic development,as an intermediary variable,can promote farmers’ income;Income distribution as an intermediary variable,the more balanced the income distribution,the more farmers income.(3)At the spatial level,digital financial inclusion has a significant promoting effect on farmers’ income,passing the 1% level test,and has a significant spillover effect on neighboring areas.(4)In addition,in order to enhance the reliability of the research conclusions,this paper conducted the endogeneity test,adding control variables,changing the weight matrix and other robustness tests.(5)Finally,in Chapter7,through theoretical analysis and empirical results,relevant policy suggestions are put forward for the government,financial institutions and farmers.