THE FINANCIAL EXCLUSION IN THE DEVELOPMENT OF DIGITAL FINANCE — A STUDY BASED ON SURVEY DATA IN THE JINGJINJI RURAL AREA

Biyun Ren (), Liuying Li, Hongmei Zhao () and Yunbo Zhou ()
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Biyun Ren: Key Research Institute of Humanities and Social Sciences at Universities of Tianjin, Research Center of Finance and Insurance, Tianjin University of Finance and Economics, Hexi Qu, Tianjin 300222, P. R. China
Liuying Li: #x2020;School of Economics, Tianjin University of Finance and Economics, 25 Zhujiang Road, Hexi Qu, Tianjin Shi 300222, P. R. China∥Corresponding author.
Hongmei Zhao: #x2021;Institute of Econometrics and Statistics, School of Economics, Nankai University, 94 Weijin Road, Nankai Qu, Tianjin 300071, P. R. China
Yunbo Zhou: #xA7;Institute of Economics, School of Economics, Nankai University, Nankai Qu 300071, P. R. China

The Singapore Economic Review (SER), 2018, vol. 63, issue 01, 65-82

Abstract: Based on survey data, we analyze the level of financial exclusion during the development of digital finance in the rural area of three Chinese provinces of Beijing, Tianjin and Hebei (Jingjinji). We use a censored probit model to examine whether there is financial exclusion and the degree of financial exclusion for the rural residents. The empirical results show that the significant factors influencing the financial exclusion in digital finance include the personal characteristics of the rural residents, the understanding of digital finance, digital financial infrastructure, the development of digital finance, and the social environment. Therefore, we think the precise orientation and distinction for the excluded group in the rural area, according to age, education, income, and other influencing factors could be helpful for making policies to eliminate financial exclusion and increase the inclusiveness of the financial industry.

Keywords: Financial exclusion; digital finance; inclusiveness; censored probit model (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (16)

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DOI: 10.1142/S0217590818500017

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