The Impact of Inclusive Finance on High-Quality Economic Development of the Yangtze River Delta in China

Abstract

As a new service system of finance, inclusive finance emphasizes on better meeting the needs of people’s livelihood at a reasonable and affordable cost. Inclusive finance can effectively solve the problems existing in the process of high-quality economic development by promoting regional coordinated development and narrowing the income gap between urban and rural areas. Firstly, this paper constructs the inclusive financial development level measurement index system and high-quality economic development measurement index system, uses these two index systems to measure the development of inclusive finance and high-quality economy of the Yangtze River Delta in China from 2010 to 2019, and then empirically analyzes the impact of Inclusive Finance on high-quality economic development in the Yangtze River Delta by using the panel threshold model. The results show that the inclusive financial development level and high-quality economic development level of cities under the jurisdiction of the Yangtze River Delta have increased steadily year by year, but the development level differentiation among different cities is obvious. Inclusive finance has a threshold effect on high-quality economic development. When the inclusive finance index is lower than 0.358, inclusive finance is not conducive to high-quality economic development. When the inclusive financial development index is between 0.358 and 0.522, inclusive finance promotes high-quality economic development, but the effect is weak. When the inclusive financial development index is greater than 0.522, inclusive finance can significantly promote high-quality economic development.

Spatial-Temporal Evolution and Influencing Factors of Rural Financial Resource Allocation Efficiency in China

“…Figure 1. The mean value of SAE, PTE and SESecondly, the differences in SAE of among provinces tend to narrow, and the proportion of efficient provinces decreased, which was consistent withZhou et al(2022) (Zhou et al, 2022).In 2000In , 2005In , 2010In , 2015 kernel density curves of SAE were shown in Figure 2. The shape of the nuclear density curve generally evolved from a double-peaked distribution in 2000 to a single-peaked distribution, with the height of the wave gradually increasing and the wave form evolving from a flat state to a steep state.…”

“…Firstly, the spatial effect coefficient 𝜌 is -0.190 and significant at 5% level, indicating that static allocation of rural financial resources has spatial siphon effects. The improvement of the allocation efficiency of rural financial resources has a great attraction to productive factors in the neighboring areas (Zhou et al, 2022), and it is easier to absorb and use more superior resources, thus showing a significant spatial siphon effect.…”

Analyzing Coupling Coordination of Pollution and Carbon Reduction with High-Quality Economic Development: A Case Study of China’s Yangtze River Economic Belt

“…On this basis, principal component analysis is utilized to assess the HQED index in 233 Chinese cities during 2003-2016, revealing that cities in the western region have lower scores than the eastern region. Zhou et al [33] construct an indicator system for measuring the HQED with five first-level indicators, including industrial structure, district structure, people's livelihood, technological innovation, and green development. Using principal component analysis to measuring the level of HQED, the conclusions reveal that the index increases at an average yearly increase of 3.2%, from 0.327 in 2010 to 0.433 in 2019 in China's Yangtze River Delta region.…”

A study on dynamic evolution, regional differences and convergence of high-quality economic development in urban agglomerations: A case study of three major urban agglomerations in the Yangtze river economic belt

“…Therefore, other factors that affect the level of highquality economic development should be considered when constructing the conditional β convergence model. Specifically, these factors mainly include government policymaking, financial development, and demographic conditions (Li et al, 2021b;Liu et al, 2021;Zhou et al, 2022). The government takes the initiative to guide the development of urban industries through the implementation of fiscal policies, thus accelerating the flow of resource factors and promoting high-quality economic development; i.e., government intervention can, to a certain extent, guide the development of urban economies; finance, as the core of the economy (Nawaz et al, 2019), can promote the coupled and coordinated development of financial development and industrial upgrading by flexibly allocating financial resources, thus allocating funds to the corresponding industries in a rational manner.…”