数字金融如何改善中国城乡二元金融结构?——基于家庭正规信贷配给视角  

How Digital Finance Improves the Urban-Rural Financial Dual Structure in China:From the Perspective of Formal Credit Rationing for Households

作　　者：周月书 王君妍 Zhou Yueshu;Wang Junyan(School of Finance,Nanjing Agricultural University)

机构地区：[1]南京农业大学金融学院,210095

出　　处：《经济评论》2024年第1期72-89,共18页Economic Review

基　　金：国家自然科学基金面上项目“数字化农业产业链金融运行机制与风险治理研究”(批准号:72173064)的资助。

摘　　要：本文基于微观数据与北京大学数字普惠金融指数,从正规信贷配给视角实证分析数字金融发展对中国城乡二元金融结构的影响。研究发现:第一,数字金融发展显著缓解了城乡家庭正规信贷配给,且相较于城镇家庭,数字金融发展能够对农村家庭的供给型信贷配给与需求型信贷配给产生更大影响,改善城乡二元金融结构;第二,数字金融发展能够在更大程度上提高农村家庭贷款期限匹配度,提升农村金融市场服务效率;第三,数字金融发展促进了城乡家庭借贷渠道正规化,改善中国正规金融与非正规金融并存的二元金融结构;第四,现阶段,数字金融发展对降低农村家庭生产经营贷款的融资成本、促进其生产经营借贷渠道正规化的作用有限。本文为改善中国城乡二元金融结构提供了经验证据与政策启示。Based on micro-level data and the Peking University Digital Inclusive Finance Index,we empirically analyze the impact of digital finance on China's urban-rural dual structure of traditional finance from the perspective of formal credit rationing.The findings are as follows:First,digital finance development significantly alleviates formal credit rationing for urban and rural households.Compared with urban households,digital finance development has a greater impact on both supply-side credit rationing and demand-side credit rationing for rural households,thus improving the urban-rural dual structure of traditional finance.Second,digital finance development can improve the matching of loan maturity for rural households to a greater extent,thereby improving the efficiency of financial service in rural markets.Third,digital finance development can improve the dual structure of formal finance and informal finance by promoting the formalization of borrowing channels for urban and rural households.Fourth,at the current stage,digital finance development plays a limited role in reducing the financing cost of production and operation loans and facilitating the formalization of production and operation loans'borrowing channels for rural households.This paper provides empirical evidence and policy inspiration for improving China's urban-rural dual structure of traditional finance.

关 键 词：数字金融 城乡家庭 二元金融结构 正规信贷配给 

分 类 号：F832[经济管理—金融学]