摘要

我国已于2020年实现832个贫困县全部摘帽，意味着脱贫攻坚总任务已完成，实现了全面建成小康社会的奋斗目标。但是，脱贫攻坚任务的完成并不表示贫困问题得到彻底解决，在“后脱贫时代”这一发展新阶段，普惠金融作为金融改革的重要举措，能否有助于防范非贫困人口陷入贫困、脱贫人口再次返贫，以及切实提高减贫质量，守住我国脱贫成果，仍是值得深入剖析的课题。本文将从多维贫困视角，考察河南省县域普惠金融对多维贫困减缓的影响。多维贫困不仅能够契合贫困问题的本质与内涵，多维度全方面反映当地贫困程度，还为我国“后脱贫时代”政策战略的制定与实施提供新思路。

理论方面，本文梳理了普惠金融发展减缓多维贫困的现有研究，以普惠金融、贫困及反贫困相关理论为支撑，厘清普惠金融减缓多维贫困的机制，在此之上，构建普惠金融减缓多维贫困的理论分析框架。实证方面，基于2014-2018年河南省105个县（市）的面板数据，在传统普惠金融指标之上纳入数字普惠金融指标，从普惠金融覆盖广度、使用深度及技术支持三个维度构建县域普惠金融指标体系，计算得出河南省县域普惠金融指数；在传统衡量贫困减缓的经济贫困减缓指标之上，纳入物资及社会保障贫困减缓指标，从三个维度构建县域多维贫困减缓指标体系，计算得出河南省县域多维贫困减缓指数。分别对河南省县（市）普惠金融发展水平及多维贫困减缓水平进行评价分析，发现河南省普惠金融发展水平以及多维减贫水平存在明显的县际差异和区域差异，两子系统各维度发展也不均衡。通过构建面板模型分析河南省县（市）普惠金融对多维贫困减缓的影响进行实证分析，研究结果表明：（1）从全省范围看，河南省县（市）普惠金融发展对减缓多维贫困具有正向影响，并且在考虑内生性以及经过稳健性检验后，结论仍然显著成立；（2）普惠金融覆盖广度、使用深度以及技术支持三个维度均能显著减缓多维贫困，其中以普惠金融覆盖广度最能正向影响多维贫困的减缓，技术支持维度对多维贫困减缓的影响最小；（3）河南省五大区域范围内，普惠金融发展均能减缓多维贫困，但区域间存在差异，以豫中地区普惠金融对多维贫困的减缓作用最为显著；（4）由面板分位数回归结果得出，相较于多维贫困问题严重的群体，富裕群体更能够从普惠金融的发展中获益；（5）区分不同维度贫困减缓发现，普惠金融可以显著减缓物质贫困，在一定程度上减缓经济贫困，但对社会保障层面的贫困没有起到减缓作用；（6）进一步地，本文建立面板门槛模型来探讨普惠金融对多维贫困减缓影响的非线性关系。结果表明，河南省县（市）普惠金融发展始终能够促进多维贫困的减缓，但存在双重门槛值，当普惠金融发展水平跨过第一重门槛后，普惠金融对多维贫困减缓的作用加大，但当其越过第二重门槛后，减贫作用有所降低，即存在边际效用递减现象。

最后，本文基于理论与实证的分析，对进一步推动河南省县（市）普惠金融发展，发挥普惠金融对减缓多维贫困的正向影响提出政策建议。

关键词：河南省；普惠金融；多维贫困减缓

Abstract

By 2020, China has lifted all 832 poverty-stricken counties,which means the overall task of poverty alleviation has been completed and the goal of building a moderately prosperous society in all respects has been achieved.Crucial tasks completed out of poverty, however,was not says thoroughly solve the poverty problem, in "out of poverty after age" this new stageof development, inclusive finance as the important measure of financial reform, can help to prevent the poverty population in poverty, poverty population to Chinese again, and effectively raise the quality of poverty reduction and defend our country out of poverty, is still worthy of in-depth topic.This paper will investigate the impact of county inclusive finance on the alleviation of multidimensional poverty from the perspective of multidimensional poverty in Henan Province.Multidimensional poverty can not only reflect the nature and connotation ofpoverty problems, but also provide new ideas for the formulation and implementation of policies and strategies in the post-poverty era in China.

In terms of theory, after sorting out the existing research on the development of inclusive finance alleviating multidimensional poverty,this paper clarifies the mechanism of inclusive finance alleviating multidimensional poverty with thesupport of theories related to inclusive finance, poverty and anti-poverty, and builds a theoretical analysis framework of inclusive finance alleviating multidimensional poverty on this basis.Based on empirical and Henan province in 2014-2018 panel data of 105 counties (cities) in the traditional inclusive finance above into inclusive finance indicators. Based on the theoretical analysis, the inclusive financial evaluation system is constructed from the aspects of coverage,depth of use and technical support, and the inclusive financial index is calculated,Based on the economic poverty alleviation index,which is a traditional measure of poverty alleviation, the poverty alleviation index of material and social security is included, and the multidimensional poverty alleviation index system at the county level is constructed from three dimensions, and the multidimensional poverty alleviation poverty alleviation index at the county level of Henan Province is calculated.Through the evaluation and analysis of the development level of inclusive finance and the multidimensional poverty alleviation level of Henan Province,it is found that there are obvious inter-county and regional differences in the development level of inclusive finance and themultidimensional poverty reduction level in Henan Province, and there are also differences in the development status of each dimension of the two subsystems.By constructing a panel model to analyze the impact of inclusive finance on multidimensional poverty alleviation in Henan Province, the empirical analysis is carried out. The research results show that:(1) From the perspective of the whole province,the development of inclusive finance in the counties (cities) of Henan Province contributes to the alleviation of multidimensional poverty,and the conclusion is still significantly true after considering endogenity and robustness test;(2) The coverage breadth, use depth and technical support of inclusive finance can significantly alleviate multidimensional poverty. The coverage breadth of inclusive finance has the greatest impact on the reduction ofmultidimensional poverty, while the impact of technical support dimension is the least.(3) Within the five regions of Henan Province, the development of inclusive finance can alleviate the multidimensional poverty, but there are differences among regions,and the effect of inclusive finance on the reduction of multidimensional poverty in central Henan Province is the most significant;(4) According to the results of panel quantile regression, compared with the group with severe multidimensional poverty problem,the rich group is more able to benefit from the development of inclusive finance;(5) By distinguishing different dimensions of poverty alleviation, it is found that inclusive finance can significantly alleviate material poverty and economic poverty to a certain extent, but it has no effect on social poverty;(6) Further, this paper establishes a panel threshold model to explore the nonlinear relationship between the impact of inclusive finance on multidimensional poverty mitigation.The results show that the development of inclusive finance can always promote the reduction of multidimensional poverty in Henan province, but there is a double threshold.When the development level of inclusive finance crosses the first threshold,the effect of inclusive finance on the alleviation of multidimensional poverty increases, but when it crosses the second threshold,the effect of poverty reduction decreases, that is, the phenomenon of diminishing marginal utility exists.

Finally, based on theoretical and empirical analysis,this paper puts forward policy suggestions for further promoting the development of inclusive finance in Henan Province, and promoting inclusive finance to alleviate multidimensional poverty.

Key words: Henan Province; Inclusive finance; Multidimensional poverty alleviation