| 《The 14th Five-Year Plan for National Economic and Social Development and the Vision for 2035 》 pointed out that we should improve the level of financial science and technology,enhance financial inclusiveness,deepen the reform of rural collective property rights system,and develop a new rural collective economy.As a leader in the development of the national rural collective economy,Zhejiang Province achieved a total income of 70.7 billion yuan in 2021.In the same year,it was entrusted with the task of exploring the construction of a demonstration zone for common prosperity by the state.As a new financial form that adapts to the development of the times,can digital inclusive finance have a significant impact on the new rural collective economy,and what is the internal impact mechanism between the two? In order to explore the answers to such questions,this paper has launched its research.This study uses the data from "Peking University Digital Inclusive Finance Index" and "Zhejiang Provincial Department of Agriculture and Rural Affairs Rural Business Survey" to conduct theoretical analysis based on financial development theory,principal-agent theory,and transaction cost theory.It analyzes the current situation of digital inclusive finance and the new rural collective economy in Zhejiang Province,and then uses fixed effect models to conduct empirical analysis.It also conducts a robustness test and heterogeneity analysis of the results,Finally,explore the impact mechanism.The main research conclusions are as follows:(1)Digital inclusive finance can significantly promote the growth of the income of the new rural collective economy.After the robustness test of replacing the explanatory variable,the explained variable,and carrying out endogenous processing,the conclusion is still reliable.(2)The smaller the organizational scale of the rural collective economy,the stronger the income increasing effect of digital inclusive finance on the income of the new rural collective economy;Compared with non mountainous island counties(cities,districts),the digital inclusive finance in mountainous island counties(cities,districts)has a more significant impact on the income increase of the new rural collective economy.Digital inclusive finance in the "Northeast Zhejiang" region can significantly promote the income of the new rural collective economy,while the impact in the "Southwest Zhejiang" region is not significant.(3)The upgrading of industrial structure can serve as an intermediary variable in the path of digital inclusive finance promoting the income growth of the new rural collective economy.Based on the research conclusions,corresponding countermeasures and suggestions are proposed:(1)Relevant departments should strengthen the construction of digital infrastructure,promote the digital transformation of traditional finance,promote digital inclusive finance in rural and other backward areas,and improve the level of digital inclusive finance.(2)Rural areas should actively carry out the reform of the rural collective property rights system,develop a new type of rural collective economy,conduct large-scale production and operation,and enhance market competitiveness.(3)Enterprises and relevant organizations should upgrade their industrial structure,extend the rural industrial chain,and retain more value-added value to promote the income growth of the new rural collective economy. |
