数字普惠金融发展、收入差距与农村经济增长

Development of Digital Inclusive Finance,Income Gap and Rural Economic Growth

文章利用2011—2019年中国31个省份的面板数据,构建Hansen面板门槛回归模型,研究数字普惠金融发展下收入差距对农村经济增长的非线性影响。研究发现:(1)在数字普惠金融发展影响下,收入差距与农村经济增长呈“U”型非线性关系。当数字普惠金融发展水平≤122.03时,农村内部收入差距对农村经济增长存在抑制效应;而当数字普惠金融发展水平跨越拐点122.03时,适度的农村内部收入差距有利于农村经济增长。(2)2014年以后,中国所有省份数字普惠金融发展水平均已跨越拐点,处于“U”型曲线递增区间。(3)覆盖广度、使用深度和数字化程度三个维度的共同发展和协调配合使得收入差距对经济增长产生促进作用,其中,覆盖广度作用最大,使用深度次之,数字化程度影响最小。数字普惠金融的发展能够显著调节农村内部收入差距与农村经济增长之间的关系,规避农村贫富差距过大对农村经济增长产生的抑制效应。

This paper uses the panel data of 31 provinces in China from 2011 to 2019 to construct a Hansen panel threshold regression model,and then studies the nonlinear impact of income gap on rural economic growth under the development of digital inclusive finance.The findings of the research are as the following:(1)Under the influence of the development of digital inclusive finance,the income gap has a“U-shaped”nonlinear relationship with rural economic growth.When the development level of digital inclusive finance is≤122.03,the internal income gap in rural areas has a restraining effect on rural economic growth;when the development level of digital inclusive finance crosses the inflection point 122.03,a moderate rural internal income gap is conducive to rural economic growth.(2)After 2014,the development level of digital inclusive finance in all provinces of China has crossed the inflection point and is in the progressively increasing interval of the U-shaped curve.(3)The common development and coordination of the three dimensions of coverage breadth,use depth and digitalization degree make the income gap have a promoting effect on economic growth,among which coverage plays the largest role,followed by use depth,and digitalization degree has little impact.The development of digital inclusive finance can significantly adjust the relationship between rural internal income gap and rural economic growth,and avoid the inhibitory effect of excessive rural wealth gap on rural economic growth,especially the development of coverage.