数字普惠金融的增收效应与作用机制——基于中国市级面板数据的实证分析

The Impact of Digital Financial Inclusion on Income Increase and the Mechanism:Empirical Analysis Based on Chinese Municipal Panel Data

基于2013—2019年中国284个市级地区的面板数据,构建模型探讨数字普惠金融的增收效应,研究发现,数字普惠金融发展有助于提高居民收入,而且在数字金融覆盖广度、使用深度和数字化程度三个层面均存在显著增收效应;农村地区的居民增收效应大于城镇地区,中低收入群体的增收效应大于高收入群体,推广数字普惠金融可缓解社会贫富差距。从作用机制来看,数字普惠金融增收存在经济发展和产业升级的中介效应。因此,建议夯实数字普惠金融的基础设施,推动银行业的数字化转型,引导信贷支持实体经济和产业升级,以提高低收入群体的金融覆盖程度,助力乡村振兴。

Based on the panel data of 284 municipal-level regions in China from 2013 to 2019,this study constructs a model to discuss the impact of digital financial inclusion on income increase.The study results show that the development of digital financial inclusion is conducive to increasing the income of residents,and the impact of coverage and depth of use of digital finance as well as the degree of digitization have a significant impact on income increase.The impact on rural residents’income increase is larger than that on urban residents,and the impact on low-and middle-income groups’income increase is larger than that on high-income groups.The promotion of digital financial inclusion can bridge the social/financial gap between the rich and poor.As for the mechanism of impact,economic development and industrial upgrade have a mediating effect on the impact of digital financial inclusion on income increase.Therefore,it is suggested to strengthen the infrastructure of digital financial inclusion,accelerate the digital transformation of the banking industry,and guide credits to support the real economy and industrial upgrade,so as to increase the access of low-income groups to finance and support rural revitalization.