财政赤字在数字普惠金融影响经济增长中的作用研究  

The role of fiscal deficits in the impact of digital inclusive finance on economic growth

作　　者：张小锋[1] 吉芳芳 ZHANG Xiaofeng;JI Fangfang(School of Finance and Public Administration,Harbin University of Commerce,Harbin 150028,China)

机构地区：[1]哈尔滨商业大学财政与公共管理学院,黑龙江哈尔滨150028

出　　处：《天津商业大学学报》2025年第1期21-28,共8页Journal of Tianjin University of Commerce

基　　金：国家社会科学基金项目“‘双循环’新格局下新型城镇化高质量发展的动力机制及路径研究”(22BSH019)。

摘　　要：财政赤字作为调控宏观经济运行手段之一,在推动数字普惠金融促进经济增长中发挥着重要作用。基于2011—2022年31个省级面板数据,通过构建固定效应模型实证考察财政赤字在数字普惠金融影响经济增长中的作用机制。研究结果表明:财政赤字对数字普惠金融促进经济增长具有正向调节效应和单门槛效应,调节效应的异质性表现为在东部和西部地区较强,而在中部地区无效应;在民生财政支出占比低时较强,而在占比高时无效应。单门槛效应表现为随着财政赤字规模扩大,数字普惠金融对经济增长的促进作用呈现先强后弱的非线性特征。据此,提出实施差异性财政赤字、提高资金使用效率、合理设定赤字上限标准的对策建议,以充分发挥财政赤字在数字普惠金融促进经济增长中的重要作用。As one of the means to regulate the operation of macro-economy,fiscal deficits play an important role in promoting economic growth through digital inclusive finance.Based on the panel data of 31 provinces from 2011 to 2022,this paper empirically examines the role of fiscal deficits in the impact of digital inclusive finance on economic growth by constructing a fixed effects model.The results indicate that fiscal deficits have a positive moderating effect and a single threshold effect on the promotion of economic growth through digital inclusive finance.The heterogeneity of the moderating effect is manifested as being stronger in the eastern and western regions,while there is no effect in the central region.When the proportion of livelihood fiscal expenditure is low,the moderating effect is stronger,but when the proportion is high,there is no effect.The single threshold effect shows that with the expansion of fiscal deficits,the promoting effect of digital inclusive finance on economic growth exhibits a non-linear characteristic of being strong first and then becoming weak.Based on this,countermeasures and suggestions are proposed to implement differential fiscal deficits,improve the efficiency of fund utilization,and set reasonable upper limit standards for deficits,in order to give full play to the important role of fiscal deficits in the promotion of economic growth through digital inclusive finance.

关 键 词：数字普惠金融 财政赤字 经济增长 调节效应 门槛效应 

分 类 号：F812[经济管理—财政学]