Integrated development of inclusive finance and green finance promotes rural revitalization

Abstract

In 2016, China put forward the topic of green finance and inclusive finance at the G20 Summit in Hangzhou. Since then, more and more scholars in China have paid attention to the possibility and influence of the integrated development of green finance and inclusive finance. In recent years, China has gradually established a domestic green financial market system through a series of measures such as issuing green financial standards, disclosure requirements and encouraging green financial product innovation. According to data from the National Statistical Bulletin, by the end of 2021, the loan balance of major rural financial institutions (rural credit cooperatives, rural cooperative banks, rural commercial banks) was 2.42496 trillion yuan, an increase of 2.6607 billion yuan compared with the beginning of the year. From the perspective of Liaoning Province, at the end of 2020, the balance of loans in domestic and foreign currencies of banking financial institutions in Liaoning was 520.94 billion yuan, an increase of 262.68-billion-yuan year-on-year, an increase of 5.3% year-on-year. The growth rate slowed down, with a decrease of 4.9 percentage points compared with the previous year. Firstly, we select a series of indicators and use entropy method to calculate the weight of each indicator. According to the analysis and processing of historical data, the quantization results of core explained variables, core explained variables and control variables are obtained. Descriptive statistics are made according to China Rural Statistical Yearbook and Peking University Digital China GSP Financial Index (2011-2020). Then, four spatial econometric models, namely spatial Dubbin model, spatial autoregression model, spatial correlation model and spatial error model, were applied to analyze the development relationship between digital inclusive finance and rural revitalization. Based on the evaluation system of rural revitalization, the development level of rural revitalization was obtained by combining the relevant data of 30 provinces in China from 2011 to 2021. Finally, the application of LR inspection, LM test to verify the reliability of the regression results, and considering the effect of partial differential decomposition method is used to the calculation results are decomposed, the weights in different space under the condition of digital Pratt & Whitney directly influence to the time of rural financial revitalization policy and policy space spillover effects, further analysis Pratt &Whitney financial relationship with the revitalization of the development of the rural.