普惠金融发展与共同富裕——基于跨国数据的实证研究  

The Impact of Inclusive Financial Development on Common Prosperity——An Empirical Study at the National Level

作　　者：张龙耀 李渊 周南 Zhang Longyao;Li Yuan;Zhou Nan(College of Finance,Nanjing Agricultural University;School of Advanced Agriculture Sciences,Peking University)

机构地区：[1]南京农业大学金融学院 [2]北京大学现代农学院

出　　处：《国际金融研究》2023年第10期3-15,共13页Studies of International Finance

基　　金：国家自然科学基金面上项目“中国农村数字金融的发展机制和效应:基于实验经济的研究”(71973064);国家自然科学基金面上项目“金融科技背景下农村金融机构数字化发展机制与普惠效应研究”(72073067);国家自然科学基金管理学部应急项目“金融支持乡村振兴的政策创新研究”(72141013)资助。

摘　　要：本文基于63个国家和地区2007-2020年的面板数据,实证检验了普惠金融对共同富裕的影响以及在不同收入水平国家和地区间的异质性,并对影响机制进行分析。研究发现:第一,普惠金融在促进经济增长的同时能够改善收入分配,在“共同”和“富裕”两个维度均发挥积极作用,最终提高经济体的共同富裕程度。第二,普惠金融发展对共同富裕的影响在不同收入水平国家和地区间存在异质性,对高收入和中高收入国家和地区存在显著的促进作用,在中低收入和低收入国家和地区作用不明显。进一步分析发现,普惠金融发展在“共同”维度上对收入水平较高国家和地区的影响更显著,在“富裕”维度上对收入水平较低国家和地区的影响更显著。第三,有助于创业是普惠金融发展影响共同富裕的重要机制,且这一机制在收入水平较低和人力资本较高的国家和地区作用更显著。因此,我国应持续推进普惠金融发展,充分发挥普惠金融改善收入分配的作用,以期早日实现全体人民共同富裕。As a global practice,inclusive finance has demonstrated great potential for promoting economic growth and reducing economic inequality.It is gradually gaining recognition as a development approach in various countries and is considered one of the crucial mechanisms for poverty eradication,fostering growth and enhancing social inclusion.Common prosperity is an important feature of Chinese modernization,which has similar connotations to the development concepts of inclusive growth,shared prosperity and sustainable development.Against the backdrop of growing global inequality,examining the impact of inclusive finance on common prosperity from a national perspective,analyzing its stage characteristics and impact mechanisms across countries with different income levels,and extracting common laws have essential theoretical value and practical significance.Based on the panel data of 63 countries and regions from 2007 to 2020,this paper empirically investigates the impact of financial inclusion on common prosperity,considering variations among countries and regions with different income levels,and analyzes the impact mechanism.The study finds that,firstly,financial inclusion can promote economic growth and improve income distribution at the same time,playing a positive role in both"common"and"prosperity"dimensions and ultimately increasing the common prosperity of countries and regions.Secondly,there is heterogeneity in the impact of financial inclusion development on common prosperity among countries and regions of different income levels,with a significant contribution only in high-income and upper-middle-income countries and regions but not in low-income and middle-income countries and regions.Further analysis reveals that the impact of financial inclusion development on the degree of"common"is more significant in higher income countries and regions,while the impact on the degree of"prosperity"is more significant in lower income countries and regions.Thirdly,promoting entrepreneurship is an important mechanism for fin

关 键 词：普惠金融 共同富裕 国别视角 创业 

分 类 号：F832[经济管理—金融学]