数字普惠金融、居民消费与经济增长——来自我国省域面板数据的经验证据  

Digital financial inclusion,household consumption and economic growth:empirical evidence from provincial panel data in China

作　　者：方先明[1] 刘韫尔 陈楚 FANG Xian-ming;LIU Yun-er;CHEN Chu

机构地区：[1]南京大学商学院金融与保险学系,江苏南京210093 [2]南京大学商学院,江苏南京210093 [3]南京信息工程大学商学院,江苏南京210044

出　　处：《东南大学学报（哲学社会科学版）》2022年第3期40-50,146,147,共13页Journal of Southeast University(Philosophy and Social Science)

基　　金：江苏省高校哲学社会科学研究重大项目“错配视角下江苏金融支持经济增长研究”(2020SJZDA049)成果之一。

摘　　要：数字普惠金融深度融合数字金融与普惠金融,能够突破物理与信息等条件对于金融服务的约束,从而成为金融支持经济增长的重要抓手。基于金融发展与深化理论,剖析了数字普惠金融对经济增长的影响及其作用机制,进而利用2013—2020年我国省域面板数据对其进行检验。结果发现,数字普惠金融对经济增长有显著的促进作用,其覆盖广度和使用深度较数字化程度而言具有更强的边际效应;数字普惠金融支持经济增长的具体作用机制通过促进居民消费实现,并受到金融服务可得性的负向调节。进一步的研究还发现,数字普惠金融的经济增长效应存在金融排斥异质性,金融排斥效应越强烈的地区,数字普惠金融对于经济增长的促进作用越强劲。As a fusion of digital finance and inclusive finance,digital inclusive finance can break through the constraints of physical and information on financial services,thus an important starting point for finance to support economic growth.Based on the theory of financial development and deepening,the paper analyzes the impact of digital financial inclusion on economic growth and that its mechanism,and then uses the provincial panel data in China from 2013 to 2020 to test it.The results show that digital financial inclusion has a significant role in promoting economic growth,and that its coverage and depth of use have a stronger marginal effect than the degree of digitalization.The specific mechanism of digital financial inclusion in supporting economic growth is achieved by promoting household consumption and is negatively moderated by the availability of financial services.Further research also finds that the economic growth effect of digital financial inclusion is heterogeneous in terms of financial exclusion.The stronger the financial exclusion effect,the stronger the promotion effect of digital financial inclusion on economic growth.

关 键 词：数字普惠金融 居民消费 经济增长 区域差异 

分 类 号：F83[经济管理—金融学]