Research on Digital Inclusive Finance Promoting the Integration of Rural Three-Industry.

Heping Ge,Decai Tang,Hao Xu,Valentina Boamah,Bowen Li

doi:10.3390/ijerph19063363

Abstract

The development of digital financial inclusion helps create a healthy rural financial ecological environment and plays an important role in integrating rural tertiary industries. This paper incorporates digital financial inclusion into the rural tertiary industry integration research framework. Furthermore, it adopts the double-difference method to empirically analyze the impact of the development of digital financial inclusion on rural tertiary industry integration from the perspective of policy impact. In addition, it considers regional differences in the financial ecological environment; robustness tests were carried out using methods such as placebo tests and validated the conduction mechanism. The study through the double-difference model found that digital financial inclusion is very conducive to promoting rural tertiary industry integration; using the quantile DID (difference in differences) method to analyze the heterogeneity, it is concluded that there is a heterogeneous impact on rural tertiary industry integration. It exerts a more significant improvement in provinces and cities with higher rural tertiary industry integration levels. Constructing an intermediary effect model to verify the transmission mechanism concludes that the policy has promoted the improvement of rural tertiary industry integration efficiency by promoting technological innovation, improving agricultural modernization, and building a risk-sharing mechanism. Finally, it puts forward policy recommendations from optimizing the financial ecological environment, rationally allocating financial resources, and perfecting the transmission mechanism.

Highlights

IntroductionHow to transform and upgrade traditional agriculture and expand and extend the agricultural value chain are currently the focus of agricultural development in various countries
This paper considers the effect of the policy on the efficiency of rural integration through three transmission channels: technological innovation, agricultural modernization, and risk-sharing
In order to test the impact of the development of digital financial inclusion on rural tertiary industry integration, this paper uses the double-difference method to regress the efficiency of rural tertiary industry integration in 31 provinces and cities across the country with the virtual variable of whether to develop digital financial inclusion

Summary

Introduction

How to transform and upgrade traditional agriculture and expand and extend the agricultural value chain are currently the focus of agricultural development in various countries. The integrated development of the three industries in rural areas is an important strategic plan for achieving high-quality economic development, agricultural supply-side reforms, and revitalizing rural industries. Central Document in 2021 pointed out that it is necessary to build a modern rural industrial system and empower the integration of rural tertiary industries [1]. Promoting the prosperity of rural industries and enhancing the core competitiveness of rural areas through the integrated development of rural primary, secondary, and tertiary industries is an important part of my country’s cultivation of new momentum for rural revitalization and the path to socialist rural revitalization with Chinese characteristics. In promoting the development of inclusive finance around the world, more countries have begun to pay attention to the impact of inclusive finance policies on economic and social development, and China is a typical example. The central government has always paid full attention to enabling finance to empower rural industries and promote

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