Is it Necessary for the Developed Areas to Develop Inclusive Finance from the Perspective of Heterogeneity? Taking JiangSu Province of China as an Example

Purpose This paper does not simply explore the relationship between Inclusive Finance Development and economic growth in a region. It is from the perspective of regional heterogeneity to explore whether the economically developed areas need to focus on the development of Inclusive Finance. Design/Methodology/Approach In order to determine whether the economically developed areas need to focus on the development of Inclusive Finance, this paper selects China’s second largest province-JiangSu Province as an example to analyze. In the process of research, it constructs the inclusive financial development system, calculates the development level of Inclusive Finance in Jiangsu Province, and on this basis, empirically analyzes the interactive relationship between the inclusive financial development and economic growth of each sample. Findings Although the development of inclusive finance plays different roles in promoting the economy of developed and backward regions, the results show that it is necessary to focus on the development of Inclusive Finance in both developed and heterogeneous regions. Because the development of inclusive finance plays a significant role in promoting the economy of these regions. Research Implications The development of Inclusive Finance needs a good economic and financial environment. Financial Exclusion also exists in developed areas, so it is meaningful to study the economically developed areas.