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The Study on the Economic Effect of the Development of the Inclusive Finance——A Case of Shaanxi Province
Author(s): 
Pages: 64-69
Year: Issue:  5
Journal: Xi'an Finance

Keyword:  inclusive financeeconomic effectcointegrationVAR;
Abstract: Shaanxi province is located in the northwest of China where the economy is less developed, therefore, developing the inclusive finance is of great significance to balance the urban and rural economic development and promote the transformation and upgrading of the economic structure. On the basis of the related research of scholars at home and abroad for reference, the paper for the first time uses the development indicators of the inclusive finance such as loans related to agriculture and loans for the unemployed,and synthesizes them as the development index of individual, industrial and rural inclusive finance. And then, using the cointegration theory and VAR model, the paper studies the effect of the development of the inclusive finance on balancing the urban and rural economic development and reducing the economic fluctuations. The empirical results show that the rise of the development index of the individual inclusive finance plays a positive role in narrowing the income gap between urban and rural areas, and there exists the cause-result relationship and there is no time lag effect. The rise of the development index of the rural inclusive finance has no significant role in reducing the economic fluctuations. The rise of the development index of the industrial inclusive finance helps to decrease the economic fluctuations, but there exists a time lag of three quarters. For developing the inclusive finance, the paper suggests extending the financial service coverage and continuously improving the depth and breadth of the development of the inclusive finance through the innovation of financial products of the inclusive finance. At the same time, the paper also suggests establishing the supervision system of the development of the inclusive finance, strengthening the financial and fiscal policy support and focus and continually improving the focus and effectiveness of the policy.
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