移动支付普及对居民消费不平等的影响——来自CHFS的微观证据

The Impact of Mobile Payment Popularization on the Consumption Inequality:Evidence from China Household Finance Survey

数字经济对于促进"国内大循环"具有重要意义。本文基于CHFS2017数据,以不同群体为参照组构建消费相对剥夺测量指标,系统考察移动支付的普及使用对微观家庭消费不平等的影响。实证发现,移动支付使用显著降低家庭在其所在群体中受到的消费相对剥夺,且采取倾向得分匹配以及工具变量法解决样本自选择和内生性问题后得到的结果依然稳健。机制分析发现,移动支付主要通过缓解居民信贷约束和促进社会资本积累来缓解居民消费相对剥夺。进一步分析表明,对于不同的地理区位因素和不同的家庭特征,移动支付缓解消费相对剥夺的作用呈现异质性。本文为关于数字经济如何改善居民福利水平的相关研究提供了一定的微观证据,也为促进"国内大循环"战略实施提供了有益参考。

The digital economy is of great significance for pro moting the“national economical circle strategy”.Based on CHFS2017 data,this paper constructs relative deprivation indicators of household consumption with different reference groups,and systematically analyzes the impact of mobile payment on the micro household consumption inequality.The empirical findings show that mobile payment significantly reduces the relative deprivation of household consumption in the reference group.After adopting propensity score matching and instrumental variable method to solve sample self-selection and endogenous problems,the results obtained are still robust.Mechanism analysis found that mobile payment mainly alleviates the relative deprivation of consumption by alleviating credit constraints and promoting social capital accumulation.Further analysis shows that for different geographical location factors and different family characteristics,the role of mobile payment in alleviating the relative deprivation of consumption is heterogeneous.This article provides some micro evidence for studying how the digital economy can improve the welfare of residents,and it also provides a useful reference for promoting the implementation of the“national economical circle strategy”.