科技赋能提升金融支持实体经济效率了吗?——基于金融供求结构视角  

Does Technology Empowerment Enhance the Efficiency of Financial Support to the Real Economy?——From the Perspective of Financial Supply and Demand Structure

作　　者：周晔[1] 丁鑫 Zhou Ye;Ding Xin(School of Finance,Capital University of Economics and Business;School of Finance,Zhejiang University of Finance and Economics)

机构地区：[1]首都经济贸易大学金融学院 [2]浙江财经大学金融学院

出　　处：《国际金融研究》2023年第10期50-61,共12页Studies of International Finance

基　　金：国家社会科学基金面上项目“金融科技驱动下商业银行风险形成逻辑、变化特征与治理研究”(22BJY008)资助。

摘　　要：基于深化金融供给侧结构性改革以及建设数字中国的背景,金融科技赋能金融服务有助于释放实体经济活力,推动金融体系脱虚向实。本文选取2011—2020年31个省(自治区、直辖市)面板数据,实证检验金融科技赋能对金融支持实体经济以及对不同行业效率的影响。研究发现:金融科技赋能推动了金融支持实体经济效率的提升,其中对金融支持第三产业效率的影响最为明显,多种稳健性检验也支持这一结果。在金融供给端,金融科技通过增强金融机构竞争程度、提升地方性金融机构发展水平、缓解资源错配来优化金融供给结构;在金融需求端,金融科技通过增加企业贷款可得性、深化实体企业与金融体系关联程度来改善金融需求结构,从而提升金融支持实体经济效率。金融科技赋能助力金融体系脱虚向实的作用在对外开放水平较低、金融机构网点数量较少和创新水平较低的地区更为显著。本文的研究为运用金融科技增强金融服务实体经济能力,改善金融供求结构不平衡提供了经验证据。Against the backdrop of deepening the structural reform of the financial supply side and the development of a digital China,the empowerment of financial technology in financial institutions plays a crucial role in unleashing the vitality of the real economy and promoting the transformation of the financial system from virtual to real.This paper adopts panel data from 31 provinces from 2011 to 2020 to empirically examine the impact of financial technology on the efficiency of financial support for the real economy and different sectors.The paper reveals that financial technology has promoted the efficiency of financial support for therealeconomy,with the most significant impact on theeficiencyof supportingthe tertiary industry,sup ported by various robust tests.On the supply side of finance,financial technology enhances the competitiveness of financial institutions,improves the development level of local financial institutions,and optimizes the financial supply structure by alleviating resource mismatches.On the demand side of finance,financial technology improves the accessibility of corporate loans,deepens the relationship between the real economy and the financial industry,and thereby enhances the efficiency of financial support for the real economy.Furthermore,the effect of financial technology in transforming the financial system from virtual to real is more significant in regions with lower levels of openness,fewer financial institution branches,and lower levels of innovation.This paper reveals that the application of financial technology provides an opportunity to enhance the ability of financial services to the real economy and improve the imbalances in the financial supply structure.This paper aims to contribute in the following aspects.Firstly,promote the development of financial technology to fill the gaps in financial support for the real economy.Traditional financial institutions should make good use of the advantages of financial technology,such as high efficiency,low cost and wide coverage,to effect

关 键 词：金融科技 金融供求结构 金融支持实体经济效率 

分 类 号：F832[经济管理—金融学]