数字普惠金融与传统农村金融:溢出效应抑或挤出效应  

Digital Financial Inclusion and Traditional Rural Finance:Spillover Effect or Crowding out Effect

作　　者：董龙训[1] 张立光[1] 亓鹏 Dong Longxun;Zhang Liguang;Qi Peng(PBC Jinan Branch,Jinan 250021,Shandong,China;PBC Laiwu Central Sub-Branch,Jinan 277102,Shandong,China)

机构地区：[1]中国人民银行济南分行,山东济南250021 [2]中国人民银行莱芜市中心支行,山东济南277102

出　　处：《金融发展研究》2023年第2期37-43,共7页Journal Of Financial Development Research

基　　金：山东省社科规划研究项目“县域数字普惠金融:发展逻辑、经济效应与影响因素”(18CJRJ19)。

摘　　要：数字普惠金融作为一种新兴业态,对传统金融机构经营发展产生了技术溢出和市场挤出两种截然相反的效应。因此,数字普惠金融是否有助于促进正规金融服务下沉,从而有效缓解传统农村金融约束,值得我们关注和思考。本文从传统信贷支农的角度出发,使用2012—2019年31个省(自治区、直辖市)涉农贷款数据,对数字普惠金融与传统农村金融之间的关系进行了实证检验。研究表明:数字普惠金融会显著促进涉农贷款增长,从而缓解“三农”融资约束,特别是在经济欠发达地区,此种效果更为明显;分维度看,数字普惠金融主要通过使用深度这一维度对传统农村金融产生影响,其次是覆盖广度;分主体看,数字普惠金融与传统金融机构农户贷款之间无显著关系,与农村企业和各类组织贷款微相关,而对城市涉农贷款具有明显的促进作用,说明当前数字普惠金融的发展过程中仍存在明显的数字排斥问题,传统金融机构的业务下沉力度有待进一步提高;进一步研究发现,人口老龄化程度会弱化数字普惠金融对传统农村金融的正向作用。As an emerging industry,digital inclusive finance has produced two opposite effects of technology spillover and market crowding out on the operation and development of traditional financial institutions.Therefore,whether digital inclusive finance can help promote the sinking of formal financial services,thus effectively alleviating traditional rural financial constraints,deserves our attention and consideration.This paper empirically examines the relationship between digital inclusive finance and traditional rural finance from the perspective of traditional credit support for agriculture,using data on agriculture-related loans from 31 provinces(autonomous regions and municipalities directly under the central government)from 2012 to 2019.Research shows that digital inclusive finance can significantly contribute to the growth of agriculture-related loans,thus alleviating the financing constraints of the"three rural areas",especially in less economically developed areas;by dimension,digital inclusion has an impact on traditional rural finance mainly through the dimension of depth of use and,to a lesser extent,breadth of coverage;by subject,there is no significant relationship between digital inclusive finance and traditional financial institutions’loans to farmers,and a slight correlation with loans to rural enterprises and various organizations,while there is a significant promotion effect on urban agriculture-related loans,indicating that there is still an obvious problem of digital exclusion in the current development of digital inclusive finance,and the business sinking of traditional financial institutions needs to be further improved;further research finds that the degree of population aging weakens the positive effect of digital inclusion on traditional rural finance.

关 键 词：数字普惠金融 “三农”融资 传统金融机构 

分 类 号：F830.34[经济管理—金融学]