An Empirical Study On The Impact Of Digital Inclusive Financial Development On Rural Residents’ Income In Fujian Province

Since 2004,the CPC Central Committee has listed the issue of "agriculture,rural areas and farmers" in the No.1 document of the Central Committee for 19 consecutive years.Considering the background of consolidating the achievements of poverty alleviation,realizing rural revitalization and common prosperity,solving the problem of farmers’ income and promoting the sustainable increase of farmers’ income is the top priority of rural economic development at the present stage.With the steady progress of the national new-type urbanization plan,residents’ income in Fujian Province has gradually increased.However,due to the uneven distribution of resources caused by the long-standing urban-rural dual structure,the income of rural residents is still significantly lower than that of urban residents.This is not conducive to the coordinated economic development of Fujian Province,and will restrict the integration of urban and rural areas to a certain extent,hindering the realization of rural revitalization.The popularization of the Internet and the progress of financial technology have provided better fertile ground for the development of digital inclusive finance,thus lowering the threshold for rural vulnerable groups to participate in financial activities and enjoy financial services,alleviating the effect of financial exclusion,and improving the income level of rural residents in a priority way.Based on the review of relevant research results,this paper analyzes the development status of digital inclusive finance and the income status of rural residents in Fujian province,and combines the theory of financial development and income distribution to analyze the impact mechanism of digital inclusive finance on rural residents’ income,and then puts forward relevant hypotheses.Based on the data of 58 counties(cities)in Fujian Province from 2014 to 2020,the fixed-effect panel regression model was used to test the direct income increasing effect of digital inclusion finance on rural residents in Fujian Province,and the dimension and regional heterogeneity were analyzed through the fractal regression and subregional regression.The threshold panel regression model is used to test the nonlinear effect of digital inclusive finance on rural residents’ income.The panel regression model of mediating effect is used to test the indirect income increase effect of digital inclusive finance on rural residents in Fujian Province.The moderated panel model of mediating effects was used to test the income increase effect regulated by the level of rural logistics supply.According to the above empirical tests,corresponding research conclusions are obtained.Combining with the actual situation of Fujian Province,this paper puts forward policy suggestions from four aspects:improving the construction of digital inclusive finance system,strengthening the construction of digital infrastructure,improving the supervision system of digital inclusive finance and strengthening the publicity of digital inclusive finance.