The Data Analytics of Finance Impact on the Rural Development Combining Financial Constraint and Economic Growth Theory

Abstract

In order to solve the predicament of rural economic development, China’s rural areas have spontaneously formed a rural financial system with rural characteristics. With the deepening reform of rural finance, Rural Commercial Bank was restructured on the basis of rural credit cooperatives in the past. It can be said that Rural Commercial Bank is a rural financial institution born in rural areas. Therefore, the development of the local rural commercial bank and the development of the local rural economy have been integrated, and the core force in rural finance is the Rural Commercial Bank. It is precisely because of the core position of China’s rural commercial banks in rural, when Chinese scholars conduct research on rural finance, they often choose rural commercial banks as the research object. Based on this, when the article studies the impact of rural finance on the rural economy, it also chooses rural commercial banks as the research object. Finance that the rural commercial banks are used as the starting point to carry out the research work on their local rural finance. This article takes D County Rural Commercial Bank as an example to introduce and analyze the development status and development process of D county’s rural finance. Using the method of empirical research, this paper studies the impact of the development of agricultural-related business of rural commercial banks on the rural economy. In addition, according to the empirical research results, a set of financial innovation countermeasures to promote rural economic development is proposed. Through the research on the influence of rural financial institutions in D county on the rural economy, it can be seen that providing new directions and new methods for the development of China’s rural economy from the perspective of finance. It provides a reference for promoting the stable and effective development of the domestic rural economy. The survey shows that rural deposits have maintained a rapid upward trend. The total amount increased rapidly from 2.219 billion yuan in 2012 to 6.039 billion yuan in 2018, with an average annual increase of 637 million yuan.