Impact of Inclusive Finance on Inclusive Economic Growth in the Eastern Coastal Areas--Empirical analysis based on the data of Lianyungang City
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Liyu Zhu, Yudi Chen, Weihan Jin
Due to the urban-rural dual structure and the imbalance of financial resource allocation, promoting the development of inclusive finance is of great significance to improve social welfare, alleviate income inequality and achieve inclusive growth. This paper takes Lianyungang, a city in the eastern coast of China, as an example. With “weight coefficient method”, inclusive financial development index and inclusive economic growth index for the period of 2007-2017 in this city are calculated. Then the correlation between inclusive financial development and inclusive economic growth is verified through empirical analysis. The study indicates that the eastern coastal areas have a relatively higher urbanization rate and a better financial foundation. The inclusive financial development in these regions has a significant impact on inclusive economic growth, that is to say, the improvement of inclusive finance in the eastern coastal areas can considerably promote inclusive economic growth and be helpful in coordinated development of all regions.
Inclusive finance, Inclusive growth, Weight coefficient method, Lianyungang city