数字经济赋能居民消费:理论机制与微观证据

The Digital Economy Promotes the Consumption of Residents:Theoretical Mechanism and Micro Evidence

文章基于2012-2018年中国家庭追踪调查(CFPS)数据,将“宽带中国”战略视为一次准自然实验,通过双重差分法(DID)探究数字经济对居民消费的影响,并利用双重差分倾向得分匹配法(PSM-DID)等多种方法进行了稳健性检验。研究结果表明,数字经济能有效刺激居民消费增长,且对服务型消费促进效果更明显。此外,与中间消费水平人群相比,数字经济对低消费水平和高消费水平人群消费的促进效果更明显。由异质性研究可知,与农村居民相比,数字经济对城镇居民消费的促进效果更显著;与男性居民相比,数字经济对女性居民消费的作用更显著;与中、老年居民相比,数字经济对青年消费的促进效果最明显,主要是由于青年对新事物的接受和学习能力更强。由理论机制检验可知,数字经济能提高居民收入进而促进居民消费增长。

This paper uses the data of the China Family Panel Studies(CFPS)from 2012 to 2018 to verify the significant effect of digital economy on the consumption of residents.The method of difference-in-differences(DID)was used to evaluate the impact of digital economy on the consumption,and the propensity score matching method(PSM-DID)was used to test the robustness.The empirical results show that the digital economy can promote the consumption,especially for the service consumption.In addition,compared with people with intermediate consumption levels,the digital economy has more obvious effects on the consumption of people with low consumption levels or high consumption levels.Heterogeneity research found that digital economy can more significantly promote the consumption of residents in the urban than in the rural,and that of the women than the man,and that of the younger than the older.The mechanism tests show that the digital economy can promote the consumption by increase their incomes.