The Regional Difference and Factors of Rural Financial Exclusion——A Theoretical Analysis and Empirical Test

This paper is a theoretical analysis of the internal mechanism of Chinese rural financial exclusion. The paper proposes a six-dimension hypothesis of rural financial exclusion and constructes a model and indexes to measure the rural financial exclusion. The empirical results show that rural financial market is a multi-dimensional and complex system; the most important factors to influence China's rural financial exclusion are price exclusion and marketing exclusion; intervention measures, such as governmental financial support for agriculture, interest rate regulation, etc., may be failed in provincial region; the degree of rural financial exclusion varies greatly between provinces or districts, so do the degrees of rural financial exclusion in six dimensions. The financial combination is needed to solve the problem of rural financial exclusion: to promote the stability and coordinate development of provincial economy, reform the industrial structure and developmental mode in rural areas, and improve the developmental level of rural financial institutions.