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The Financial Exclusion In The Development Of Digital Finance — A Study Based On Survey Data In The Jingjinji Rural Area

Author

Listed:
  • 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)

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.

Suggested Citation

  • Biyun Ren & Liuying Li & Hongmei Zhao & Yunbo Zhou, 2018. "The Financial Exclusion In The Development Of Digital Finance — A Study Based On Survey Data In The Jingjinji Rural Area," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(01), pages 65-82, March.
    • Handle: RePEc:wsi:serxxx:v:63:y:2018:i:01:n:s0217590818500017
    DOI: 10.1142/S0217590818500017
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    Citations

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    Cited by:

    1. Zhong, Weiqiang & Jiang, Tingfeng, 2021. "Can internet finance alleviate the exclusiveness of traditional finance? evidence from Chinese P2P lending markets," Finance Research Letters, Elsevier, vol. 40(C).
    2. Lu, Xiaomeng & Zhang, Xianjun & Guo, Jiaojiao & Yue, Pengpeng, 2024. "Digital finance era: Will individual investors become better players?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 91(C).
    3. Guo, Fusen & Li, Feng & Lu, Xiaomeng, 2024. "Does financial advisors improve portfolio efficiency for individual investors? Evidence from large-scale microdata," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 400-412.
    4. Chunyan He & Anjie Li & Ding Li & Junlin Yu, 2022. "Does Digital Inclusive Finance Mitigate the Negative Effect of Climate Variation on Rural Residents’ Income Growth in China?," IJERPH, MDPI, vol. 19(14), pages 1-19, July.
    5. Xiaoli Hao & Xinhui Wang & Haitao Wu & Yu Hao, 2023. "Path to sustainable development: Does digital economy matter in manufacturing green total factor productivity?," Sustainable Development, John Wiley & Sons, Ltd., vol. 31(1), pages 360-378, February.
    6. Pengpeng Yue & Aslihan Gizem Korkmaz & Zhichao Yin & Haigang Zhou, 2022. "The rise of digital finance: Financial inclusion or debt trap," Papers 2201.09221, arXiv.org.
    7. Yue, Pengpeng & Korkmaz, Aslihan Gizem & Yin, Zhichao & Zhou, Haigang, 2022. "The rise of digital finance: Financial inclusion or debt trap?," Finance Research Letters, Elsevier, vol. 47(PA).
    8. Sylwia Klus & Magdalena Kozera-Kowalska & Anna Ostrowska, 2021. "The Phenomenon of Financial Exclusion in Rural Areas – Case Studies of the Gołdapski County," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 787-798.
    9. Lianying Yao & Xiaoli Yang, 2022. "Can digital finance boost SME innovation by easing financing constraints?: Evidence from Chinese GEM-listed companies," PLOS ONE, Public Library of Science, vol. 17(3), pages 1-20, March.
    10. Rui Ding & Siwei Shen & Yuqi Zhu & Linyu Du & Shihui Chen & Juan Liang & Kexing Wang & Wenqian Xiao & Yuxuan Hong, 2023. "Evolution, Forecasting, and Driving Mechanisms of the Digital Financial Network: Evidence from China," Sustainability, MDPI, vol. 15(22), pages 1-18, November.
    11. Li, Jie & Wu, Yu & Xiao, Jing Jian, 2020. "The impact of digital finance on household consumption: Evidence from China," Economic Modelling, Elsevier, vol. 86(C), pages 317-326.
    12. Qian Wang & Jinbao Yang & Yung‐ho Chiu & Tai‐Yu Lin, 2023. "Cross‐regional comparative study on digital finance and finance efficiency in China: The eastern and non‐eastern areas," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 68-83, January.
    13. Rayenda Khresna Brahmana & Maria Kontesa & Josephine Tan-Hwang Yau, 2024. "Does information seeking moderate the relationship between financial loan inclusion and Fintech P2P lending?," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(1), pages 171-185, March.
    14. Wang, Yuyu & Zhao, Zengli & Lu, Chen, 2024. "Does digital inclusive finance increase land rent? Evidence from rural China," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 1025-1043.

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