The Impact of Digital Inclusive Finance on the Risk-Taking of Rural Financial Institutions: Inhibition or Promotion

WU Benjian; LI Aile; YANG Conghui

Journal of South China normal University (Social Science Edition) > 2023 > (1): 68-80.

WU Benjian, LI Aile, YANG Conghui. The Impact of Digital Inclusive Finance on the Risk-Taking of Rural Financial Institutions: Inhibition or Promotion[J]. Journal of South China normal University (Social Science Edition), 2023, (1): 68-80.

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The Impact of Digital Inclusive Finance on the Risk-Taking of Rural Financial Institutions: Inhibition or Promotion

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Received Date: September 25, 2022
Available Online: March 16, 2023

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Preventing rural financial risks and improving the risk control system of rural financial institutions are the key to improving the availability of rural financial services and the necessary conditions for financial assistance to rural revitalization. As a technology-driven financial innovation, digital financial inclusion provides a new development idea for controlling the risk taking level of rural financial institutions. Using data from 982 rural credit cooperatives and rural commercial banks in China from 2014-2016, this paper explores the impact of digital inclusive finance on the risk-taking level of rural financial institutions using a panel fixed-effects model, and further analyzes the differential impact of digital inclusive finance on the risk-taking level of rural financial institutions with different asset sizes using a panel threshold model. It is found that there is an inverted "U" -shaped relationship between digital financial inclusion and risk taking of rural financial institutions: as the development of digital inclusive finance increases, the risk-taking level of rural financial institutions increases and then decreases This result is still established after the use of instrumental variables to alleviate endogenous problems and a series of robustness tests. Further research found that the risk bearing level of small financial institutions increases with the improvement of the development degree of digital financial inclusion; the risk bearing level of large and medium-sized financial institutions decreases with the improvement of the development degree of digital financial inclusion, and the digital financial inclusion is more conducive to the reduction of the risk assumption level of large financial institutions. Therefore, rural financial institutions should choose the appropriate digital degree when developing digital inclusive finance, and the regulatory authorities should also introduce corresponding guiding measures for the different development stages of digital inclusive finance to help the development of rural finance.
- digital inclusive finance,
- rural financial institutions,
- risk-taking,
- threshold regression model

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