The accumulation of rural human capital is one of the important factors to realize the sustainable development of the rural economy. Digital inclusive finance eases the budget constraints of farmers and affects their willingness and ability to invest in education which improves human capital accumulation. The impact of digital inclusive finance on rural human capital accumulation is strong but complex to determine. Based on the data from 31 provinces of China from 2011 to 2020, this study uses the systematic Generalized Moment Method (GMM) to build an analytical framework to explore the impact mechanism and differences of digital inclusive finance over the rural human capital accumulation regional levels. The study found that with the development of digital inclusive finance and the expansion of the breadth of coverage, and usage of digital inclusive finance can significantly enhance the accumulation of rural human capital. In terms of regional differences, the boosting effect of digital inclusive finance on rural human capital accumulation is greater in the Northeast than that in the Central, Western and Eastern regions of China. The impact of the extent of digital inclusive finance coverage on rural human capital accumulation is significantly greater in Northeast and Eastern regions than in Central and Western regions; the impact of the depth of digital inclusive finance usage on rural human capital accumulation is limited in Central China. Its findings and results can help to further develop digital inclusive finance, particularly for human capital accumulation in rural areas.
Developing digital inclusive finance is one of the most effective ways to alleviate financial exclusion in the agriculture sector. For empirical investigation, data from 30 provinces of Rural China is collected from the period 2011 to 2020. The study constructs five dimensions and 22 indicators in total to critically conduct the impact of digital inclusive finance on high-quality agricultural development. The level of agricultural development is measured by entropy weight TOPSIS, and the impact of digital inclusive finance on its high-quality development is empirically tested. The results show that digital inclusive finance has significantly improved the agricultural sector and, particularly, the Eastern region of China has the greatest impact. Three dimensions of digital inclusion finance have regional heterogeneity in terms of impact on agricultural development in Rural China. Data does not show the simple linear relationship between digital inclusion finance and agricultural development quality. The impact of the former on the latter is characterized by the double thresholds. The digital inclusive finance index is the weakest when it is lower than the first threshold that is 4.7704, and the impact of the second threshold that is 5.3186 on high-quality agricultural development is gradually enhanced. After crossing the second threshold, the impact of digital inclusive finance on high-quality agricultural development in Rural China is significantly enhanced. The development of digital inclusive finance should be strengthened in the Central and Western regions to compensate for regional financial imbalances and promote synergy in the high-quality development of agriculture across the country.
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