数字普惠金融能缩小县域城乡收入差距吗?——兼论数字普惠金融与传统金融的协同效应

Does the Development of Digital Financial Inclusion Narrows the Urban-rural Income Gap?——Concurrently Discuss the Synergistic Effect between Digital Financial Inclusion and Traditional Finance in Rural Area

采用文本挖掘方法整理2014—2019年县级面板数据,研究数字普惠金融发展在缩小县域城乡收入差距中的作用与机制,并据此分析数字普惠金融与传统金融的协同效应。研究发现:数字普惠金融能够显著缩小城乡收入差距,且在东中部地区更加显著。机制分析表明:数字普惠金融主要通过“收入结构优化效应”和“信贷配置优化效应”发挥缩小城乡收入差距的作用。进一步地,数字普惠金融与传统金融在缩小城乡收入差距方面具有协同效应。从县域新型金融机构来看,村镇银行金融可得性水平越高,数字普惠金融缩小城乡收入差距效果越显著,而小额贷款公司的这一作用并不显著。

This paper analyzes the effect and mechanism of the development of digital financial inclusion on urban-rural income gap based on manually collected county-level data of China over 2014 to 2019. And then it explores the synergistic effects between the development of digital financial inclusion and traditional finance. The results show that: The development of digital financial inclusion can significantly narrow the income gap between urban and rural area, and this effect will be strengthened in areas located in eastern and central regions. Mechanism analysis shows that digital financial inclusion mainly plays the narrowing role through the “income structure optimization effect” and the “loan allocation optimization effect”. Further analysis shows that digital financial inclusion and traditional finance will jointly narrow the income gap. From the perspective of new types of rural financial institutions, the higher the financial availability of rural banks, the stronger the effect that the development of digital financial inclusion has on narrowing the urban-rural income gap. However, this effect is not significant for microfinance companies.