数字普惠金融如何影响家庭正规信贷获得?——来自CHFS的证据

How does Digital Inclusive Finance Affect Households’Access to Formal Credit?--Evidence from CHFS

2016年G20峰会提出了发展数字普惠金融的理念,而数字普惠金融对家庭正规信贷获得会产生怎样的影响,特别是对缺乏正规金融服务的“长尾”人群会产生怎样的影响?本文在理论分析基础上,基于中国家庭金融调查(CHFS)2013、2015和2017年的数据,结合地区数字普惠金融指数、《中国统计年鉴》和中国家庭追踪调查(CFPS)的数据,运用Probit面板随机效应模型进行了实证检验。研究发现:数字普惠金融显著促进了家庭正规信贷获得,该促进作用主要是通过数字支付渠道来实现的;数字普惠金融的“长尾”特性尤其显著,主要是提高了农村地区、中西部地区、低收入人群、女性群体获得正规信贷的可能性。因此,应持续推进数字普惠金融发展,优先加强移动支付技术的宣传与推广,更着力改善农村地区、中西部地区数字金融服务欠发达的状况。

At the G20 Hangzhou Summit in 2016,it was proposed to develop Digital Inclusive Finance(DFI),and how will Digital Inclusive Finance affect the access to formal credit for families,especially for the“long-tail”families who lack formal financial services?After carrying out theoretical analysis and proposing research hypothesis,we use the China Household Finance Survey(CHFS)data in 2013,2015 and 2017 and the data from digital financial inclusion index,China Statistical Yearbook,and China Family Panel Studies(CFPS)and employ Probit panel Random-Effect models to do an empirical investigation.The results show that:Digital Inclusive Finance(DFI)significantly promotes the access to formal credit for families;the mechanism of the promotion is mainly achieved by digital payment channels;the“long-tail”feature of Digital Inclusive Finance is particularly significant,which mainly improves the possibility of getting formal credit for families who live in rural areas,in the central and western regions,and for low-income people group and female group.The conclusion of this paper is of great significance for the development of Digital Inclusive Finance(DFI)to promote regional financial balance and social equity.