Empowerment Mechanisms and Empirical Evidence of Payment Technology in Capacity Expansion and Quality Improvement of Residents’Consumption  

支付科技助推居民消费扩容提质的赋能机制与实证分析

作　　者：LI Yilin GAO Changchun GAO Han 李艺琳;高长春;高晗(东华大学旭日工商管理学院,上海200051;东华大学服装与艺术设计学院,上海200051)

机构地区：[1]Glorious Sun School of Business and Management,Donghua University,Shanghai 200051,China [2]College of Fashion and Design,Donghua University,Shanghai 200051,China

出　　处：《Journal of Donghua University(English Edition)》2024年第6期662-676,共15页东华大学学报（英文版）

基　　金：Foundation items:National Natural Science Foundation of China(No.71874027);Ministry of Education Humanities and Social Sciences Research Youth Fund Project(No.23YJC760028)。

摘　　要：The time-varying difference-in-difference model is used to identify the impact of payment technology on residents’consumption,and the moderation effect analysis method is used to identify its mechanism.It is found that payment technology promotes consumption capacity expansion and quality improvement(CEQI)through three pathways of alleviating liquidity constraints,reducing transaction costs and weakening the payment of pain.The parallel and serial mechanisms of the three are further explored.The effect of payment technology on the CEQI of residents’consumption shows obvious heterogeneity due to differences in urban and rural household registration and financial literacy.Based on the empirical research results and the national conditions of China,targeted policy recommendations are proposed from the demand side,the supply side and the technological side.基于流动性约束、消费者均衡及双通道心理账户等理论剖析了支付科技助推居民消费扩容提质的作用机理。运用多期双重差分模型识别支付科技对居民消费的影响,采用调节效应分析方法识别其作用机制。研究发现,支付科技是通过流动约束缓解、交易成本降低及支付痛感削弱三条路径助推消费扩容提质的。对三者的串并联机制进行了探讨。支付科技对居民消费扩容提质的效应会因城乡户籍和金融素养的差异,呈现出明显的异质性。基于实证研究结果和中国国情,分别从需求端、供给端和技术端提出针对性的政策建议。

关 键 词：payment technology capacity expansion and quality improvement residents’consumption new quality productive force time-varying difference-in-difference moderating effect 

分 类 号：TP391[自动化与计算机技术—计算机应用技术] F014.5[自动化与计算机技术—计算机科学与技术]