数据要素市场建设与数字普惠金融发展——基于大数据交易平台建立的准自然实验  

Construction of Data Factor Market and Development of Digital Inclusive Finance in China——A Quasi-natural Experiment based on a Big Data Trading Platform

作　　者：张正平[1] 冯朝秀 ZHANG Zheng-ping;FENG Chao-xiu(School of Economics,Beijing Technology and Business University,Beijing 100048,China)

机构地区：[1]北京工商大学经济学院,北京市100048

出　　处：《中国流通经济》2025年第4期86-98,共13页China Business and Market

基　　金：国家重点研发计划项目课题“特色农业产业数字普惠金融服务关键技术”(2024YFD1601302);国家自然科学基金项目“‘公平-效率’冲突视角下中国农村普惠金融高质量发展:理论反思、驱动机制与治理体系”(72373010)。

摘　　要：党的十九届四中全会首次将数据纳入生产要素范畴,标志着我国正式将数据提升至与土地、劳动力、资本等传统要素并重的地位。数据作为一种新型生产要素,不仅在传统经济转型升级中发挥重要作用,也在金融领域展现出独特价值,其可复制、可共享的特性为破解普惠金融发展瓶颈提供新动能。自2014年起,我国开始分批设立大数据交易平台,为探究数据要素释放普惠金融潜能的路径提供了准自然实验场景。基于此,利用2011—2022年间我国285个城市的非平衡面板数据,构建多期双重差分模型,探究数据要素市场建设对数字普惠金融发展的影响。研究发现,数据要素市场建设显著推动数字普惠金融发展。作用机制分析表明,数据要素市场建设通过提高银行竞争水平,进而促进数字普惠金融的深化发展。异质性分析发现,数据要素市场建设对数字普惠金融发展在重点城市、网络基础设施水平低、市场化水平低、第三产业占比高的城市有更显著的促进作用。为此,政府应持续推动数据要素市场建设,包括加大资源投入、技术创新和平台建设力度,并出台深化大数据应用政策,拓宽大数据交易平台的应用场景;提高银行业竞争水平,通过优化银行机构城乡网点布局、引导并鼓励各类银行应用金融科技等方式,提升金融服务的质量和效率从而促进数字普惠金融的发展。The Fourth Plenary Session of the 19th Central Committee of the CPC proposed for the first time to include data into the category of production factors,which is the signal that China has officially elevated data to a position of equal importance with traditional factors of production,such as land,labor and capital.Data,as a new type of factor of production,not only plays an important role in the transformation and upgrading of traditional economy,but also may provide impetus for the development of digital inclusive finance.its nature of being reproducible and shareable provides new impetus for breaking through the bottlenecks in the development of inclusive finance.Since the year 2014,China has began to gradually establish big data trading platforms,and this provides a quasi-natural experimental scenario for exploring the path of unleashing the potential of data factors in inclusive finance.The authors use the unbalanced panel data of 285 cities in China from 2011 to 2022 to build a multiperiod differential model to empirically test the impact of data factor market construction(DFMC)on the development of digital inclusive finance(DDIF).It is found that the DFMC significantly promotes the DDIF.The test of the mechanism shows that the DFMC improves the competition level of banks,and then promotes the DDIF.Heterogeneity analysis shows that the DFMC in first-tier cities,cities with low network infrastructure,low marketization level and large proportion of tertiary industry have a stronger promoting effect on the DDIF.So,the governments should continuously promote DFMC,including increasing resource investment,technological innovation,and the intensity of platform construction,and introducing policies to deepen the application of big data to broaden the application scenarios of big data trading platforms;and they should also improve the level of competition in the banking industry,and enhance the quality and efficiency of financial services by such means as optimizing the layout of urban and rural branches of banking i

关 键 词：数据要素市场 数字普惠金融 银行竞争 双重差分模型 

分 类 号：F49[经济管理—产业经济]