数字金融对传统银行小微贷款影响的空间效应——基于非平衡空间计量模型的实证检验

Spatial Effect of Digital Finance on Small and Micro Loans of Traditional Banks——Empirical Test Based on Unbalanced Spatial Model

数字金融依托信息技术,具有跨越地理界限的特征。本文借助非平衡空间计量模型,研究不同维度数字金融发展对传统银行小微贷款影响的空间效应。实证检验结果表明:第一,我国数字金融对本区域传统银行小微贷款具有正向促进作用,且相邻区域数字金融发展会推进本地区银行小微贷款的提升。第二,不同维度数字金融发展对小微贷款的溢出影响在东部地区存在正向溢出效应,主要体现在数字金融发展深度指数的影响方面,而中西部地区的溢出效应不显著。近杭州区域仅在数字化程度指数影响下正向溢出。第三,小微贷款业务量水平较低的区域将以更快的增长速度收敛到高水平区域。现阶段,数字金融深度服务维度是推动空间效应收敛的主要驱动力。未来,数字化程度维度的发展可能对空间效应收敛有更大的贡献潜力。在数字金融发展背景下,本文结论对推动区域间银行小微贷款业务协同发展具有现实意义。

Relying on information technology, digital finance has the characteristics of crossing geographical boundaries,providing development opportunities for traditional small and micro financial services, but also bringing a certain degree of impact. Based on the data of small and micro loans of 49 banks with urban and agricultural commercial banks during 2012—2018 and the PKU-DFIIC, this paper uses the USM to study the spatial effect of the impact of digital finance development on small and micro loans. Using the USM can no longer be limited to the balanced panel data, as far as possible to ensure the sample size and estimation efficiency.The empirical test shows that,firstly, local and adjacent regional digital finance has a positive role in promoting small and micro loans in the region. Secondly, the spillover effects of different dimensions of digital financial development on small and micro loans will show asymmetric characteristics in different regions. There is a positive spillover effect in the eastern region, mainly reflected in depth index, while the central and western regions is not obvious. The near-Hangzhou region only has a positive spillover under the influence of the digital index. Thirdly, areas with low levels of micro-credit business will converge to high levels at a faster rate of growth. At present, the deep service dimension of digital finance is the main driving force to promote the convergence of spatial effect. The digital dimension may have greater contribution in the future.The relatively slow development of digital finance in the midwest and far Hangzhou region can not only further use digital finance to improve the development level of small and micro loans, but also need representative banks to improve their demonstration effect. Eastern banks, especially near Hangzhou, should seize the existing spillover advantages and realize the development of digital finance to boost the overall level of small and micro loans. The conclusion of this paper has practical significance to promote the coordinated development of small and micro loans of regional banks.