Regional Differences and Research on Economic Development Effects of Inclusive Finance

Abstract

Inclusive finance is an important direction in the "14th Five-Year Plan" period and the realization of the 2035 long-term goal. It is also one of the important keynotes for the transformation and development of China's financial industry. However, while inclusive finance plays an important role in economic growth, it also contributes to the economic development of different regions. The effects produced are different. Solving the differences is an important step for countries to achieve common prosperity. Use the financial inclusion index and the per capita GDP index related to economic growth and the number of private enterprises and individual employees related to the implementation of financial inclusion as explanatory variables. Apply the least squares method to the gross product (GDP) of each region Perform regression analysis. It is concluded that the economic growth effects of inclusive finance on the eastern, central, and western regions are different through the joint significance level of the difference description, and it can be reduced by improving infrastructure construction, formulating development plans according to local conditions, and activating the investment vitality of small and medium investors difference.