数字普惠金融发展能够缓解家庭经济脆弱性吗?——来自中国家庭的微观证据  

Has the development of digital inclusive finance alleviated the economic vulnerability of households?——Microscopic evidence from Chinese families

作　　者：吕学梁[1] 程歌 司登奎 孙继国[1] LYU Xueliang;CHENG Ge;SI Dengkui;SUN Jiguo(School of Economics,Qingdao University,Qingdao 266061,China;School of Banking and Finance,University of International Business and Economics,Beijing 100029,China)

机构地区：[1]青岛大学经济学院,山东青岛266061 [2]对外经济贸易大学金融学院,北京100029

出　　处：《重庆理工大学学报（社会科学）》2023年第2期48-66,共19页Journal of Chongqing University of Technology（Social Science）

基　　金：国家社会科学基金项目“家庭负债对居民幸福感的影响机理与政策优化研究”(21BJY248)。

摘　　要：新冠肺炎疫情冲击凸显了采取有效方法降低家庭经济脆弱性的重要性。将中国家庭金融调查(CHFS)数据与北京大学数字普惠金融指数进行匹配,采用Probit模型实证检验了数字普惠金融发展对家庭经济脆弱性的影响。研究表明:数字普惠金融的发展能够有效缓解家庭经济脆弱性,其缓解效应在农村家庭、低物质资本家庭中更加显著。这主要是因为数字普惠金融的发展可以通过促进居民创业、缓解居民信贷约束来缓解家庭经济脆弱性。数字普惠金融可以为我国居民家庭增加收入、防范风险提供重要支撑,应加大数字普惠金融建设力度,优化数字普惠金融发展环境。The impact of the pandemic highlights the importance of taking effective approaches to reduce households’ economic vulnerability. Household economic vulnerability reflects that households may fall into a state of financial crisis. At present, with high economic uncertainty, the ability of Chinese households to cope with risks needs to be further strengthened. By matching the data of China Household Finance Survey(CHFS) with the Peking University Digital Inclusive Financial Index, this paper uses the Probit model to empirically test the impact of the development of digital inclusive finance on household economic vulnerability. The results show that the development has a significant negative impact on economic vulnerability after controlling individual characteristics, household characteristics and province dummy variables. In particular, when the total index of digital inclusive finance increases by 1%, the probability of household economic vulnerability decreases by 2.4%. This effect is significant when the average index of household economic vulnerability is 28%. Among the three sub-dimensions of measuring digital inclusive finance, the coverage breadth significantly alleviates household economic vulnerability. For every 1% increase in digital inclusive finance coverage breadth, the probability of household economic vulnerability decreases by 1.6%. Digital inclusive finance gives full play to the “long tail” role by reducing financial transaction costs, improving the accessibility of financial services and effective risk control, providing economic opportunities for more residents, expanding income channels and enhancing the ability to resist risks, thus reducing the probability of households falling into poverty in the future. No matter using instrumental variables, replacing explained variables or explanatory variables, or changing econometric analysis methods or survey samples, this study finds that the impact of digital inclusive finance on household economic vulnerability is consistent with the benchm

关 键 词：家庭经济脆弱性 数字普惠金融 创业 信贷约束 

分 类 号：F832[经济管理—金融学] F126