银行金融科技、商业信用与民营企业出口——基于中国地级市面板数据的实证分析  

Banking FinTech, Commercial Credit, and Private Firm Exports: An Empirical Analysis Based on Panel Data of Prefecture-level Cities in China

作　　者：李晓庆 王聪 方佳雯 Li Xiaoqing;Wang Cong;Fang Jiawen(School of Economics,Beijing Wuzi University,Beijing 101064,China;School of Economics and Trade,Guangdong University of Foreign Studies,Guangzhou 510006,Guangdong,China)

机构地区：[1]北京物资学院经济学院,北京101064 [2]广东外语外贸大学经济贸易学院,广东广州510006

出　　处：《金融经济学研究》2022年第5期93-110,共18页Financial Economics Research

基　　金：北京市社会科学基金青年项目(20JJC024)。

摘　　要：基于84家商业银行年报及其分支机构地理分布数据构建城市层面的银行金融科技指数,结合海关数据和城市统计年鉴,实证研究银行金融科技对民营企业出口的影响,研究发现,银行金融科技的发展有助于民营企业出口增长,尤其体现在商业信用薄弱地区。机制分析表明,减少信息不对称、缓解融资约束是银行金融科技促进民营企业出口的显著传导渠道。信息不对称效应显著体现在商业信用薄弱地区差异化产品出口增长;而融资约束效应显著体现在商业信用薄弱地区持续出口企业的新品种增长和商业信用发达地区新出口企业设立两个方面。因此,在落实“稳出口”政策过程中,要推行差异化发展金融科技的激励措施,强化银行金融科技发展的民营企业出口促进效应。This study empirically investigated the effect of banking financial technology(FinTech) on private firm exports using a city-level banking FinTech index, developed based on the annual reports of 84 commercial banks and the geographic distribution data of their branches in combination with customs data and city statistical yearbooks.The results demonstrated that the development of banking FinTech contributes to the expansion of exports by private companies, particularly in regions with a weak commercial credit market.Reducing information asymmetries and easing financing constraints are the transmission channels for banking FinTech to increase private firm exports, according to the mechanism analysis.The information asymmetry effect is strongly reflected in increased exports of differentiated products in regions with a weak commercial credit market, whereas the financing constraint effect is strongly reflected in two areas: growth in new product types among firms with sustained exports in regions with a weak commercial credit market and establishment of new exporters in regions with a developed commercial credit market.To enhance the facilitating effect of banking FinTech development on private firm exports, incentive measures for differentiated FinTech development should be promoted when implementing the “export stabilization” policy.

关 键 词：银行金融科技 民营企业出口 商业信用 信息不对称 融资约束 

分 类 号：F830.33[经济管理—金融学]