Research On The Impact Of Digital Inclusive Finance On The Revitalization Of Rural Industry In Shandong Province

Rural revitalization is based on industrial revitalization.Only when the industry flourishes can the various undertakings in the agricultural and rural areas have a solid foundation.As a large agricultural province,the development of rural industry in Shandong is crucial for the country’s agricultural development.However,financial constraints to the development of rural industry in Shandong have become apparent,hindering the further development of rural industry.Digital inclusive finance combines traditional finance and the internet to ease financial segregation and solve the problems of cost and complex financing in the development of rural industries.Therefore,it is of great practical significance to explore the impact of digital inclusive finance on the revitalization of rural industry and to study the use of digital inclusive finance to help revitalization rural industry in Shandong Province.This paper takes Shandong Province as its research focus and uses the theoretical framework of financial exclusion theory,long-term impact theory,industrial structure development theory and industrial integration theory to identify the impact mechanisms of digital inclusive finance on rural industrial revitalization in Shandong Province.Secondly,production efficiency,integration level,production efficiency and structure level are selected as the four basic dimensions to measure the level of rural industrial revitalization in Shandong Province,which are used to construct the rural industrial revitalization index system.The entropy value method was applied to measure the rural industry revitalization index of 137 counties in Shandong Province from 2016 to 2020,and a comprehensive analysis of the rural industry development trend and regional differences was conducted.Again,the measured rural industry revitalization index of 137 counties in Shandong province is taken as the explanatory variable,the digital inclusive finance index of Beijing University is selected as the core explanatory variable of the empirical study,and five variables such as information level,social consumption level and human capital are selected as the control variables of the empirical model,and the fixed-effects model is selected to adopt stepwise regression for empirical testing,and further analyze The effect of the three dimensions of digital inclusive finance on the revitalization of rural industries in Shandong Province is further analyzed.Finally,in order to verify whether there is a spatial spillover effect of digital inclusive finance on the revitalization of rural industries in Shandong Province,a spatial Durbin model is used for empirical testing and effect decomposition.The threshold model is also selected to empirically test whether the effect of digital inclusive finance on the revitalization of rural industries in Shandong province is a single linear relationship.The following conclusions are drawn:(1)the level of rural industrial revitalization in Shandong Province is growing year by year,but is currently at a low level;(2)In Shandong,there are clear regional differences in the degree of industrial regeneration in rural areas;(3)digital inclusive finance can significantly contribute to rural industrial revitalization in Shandong Province,and looking at the three dimensions of digital inclusive finance,the degree of digitalization of inclusive finance and the depth of digital finance use have a higher contribution to rural industrial revitalization in Shandong Province;(4)digital inclusive finance can have a positive spatial spillover effect on rural industrial reconstruction in Shandong,and the development of digital inclusive finance in the region can improve rural industrial reconstruction in surrounding regions;(5)The impact of digital inclusive finance on rural industry activation in Shandong is not linear and has one threshold.When the level of economic development exceeds the threshold,the marginal effect of digital inclusive finance on rural industry activation weakens.Combining the results of the demonstration of digital inclusive finance on rural industry revitalization in Shandong province,this paper proposes the following countermeasures: implementing differentiated countermeasures by region;constructing a diversified digital inclusive finance development model;improving the multidimensional supervision system of digital inclusive finance;and improving the digitization and depth of use of digital inclusive finance.