数字金融发展与城乡家庭金融可得性差异

The Development of Digital Finance and Differences in Financial Availability Between Urban and Rural Households

数字金融发展能否打破传统金融的城乡二元结构值得深入探讨。本文基于宏观与微观匹配数据,检验了数字金融发展对城乡家庭金融可得性影响的差异。结果显示,相比于城镇家庭,农村家庭金融可得性受数字金融发展的影响更大,这有利于打破传统金融的城乡二元结构。进一步研究发现,数字鸿沟影响了城乡融合发展,数字设备和金融教育的普及虽然能对农村家庭金融可得性产生正向调节效应,但效应明显小于城镇家庭;异质性分析发现,数字金融发展对农村家庭传统生产信贷的挤出效应更大,对提升农村家庭高风险金融资产配置规模的作用更明显。本文研究为未来数字金融深化发展、城乡二元金融结构改善提供了经验证据和政策启示。

Whether digital finance can improve the availability of financial services for rural households and break the urban-rural dual structure of traditional finance is a subject worth studying. Using a combination dataset, this article compares the effect differences of digital finance on financial service availability between urban and rural households. The empirical results show that digital finance has a greater impact on improving the availability of financial services for rural households, which is conducive to breaking the urban-rural dual structure of traditional finance. Further studies show that the “digital divide” may hinder the integrated development of urban and rural areas. Although the popularization of digital equipment and financial education can have a positive moderating effect on the financial availability of rural households, the effect is significantly smaller than that of urban households,which reflects the urgency of improving the digital literacy of rural households. Heterogeneity analysis finds that digital finance has a greater crowding-out effect on the traditional production credit and has a more obvious effect on improving the allocation scale of high-risk financial asset of rural households. This study provides empirical evidence and policy inspiration for the development of digitalfinanceand theimprovement ofurban-ruraldualfinancialstructure in the future.