数字金融与农户消费——基于中国家庭金融调查数据的经验分析

Digital Finance and Farmers’Consumption:An Empirical Analysis Based on the Data of China Household Finance Survey

紧紧围绕以人民为中心发展消费,促进农村消费提质升级,对于满足人们美好生活需要和实现中国经济转型至关重要。本文基于2017年中国家庭金融调查数据,通过工具变量法和倾向得分匹配法实证研究数字金融对农户消费的影响。研究发现:数字金融对农户消费有显著促进效应,数字金融将带来户均消费提高24.50%,2016年折合消费为8694.81元。机制分析表明,数字金融通过提高家庭非农就业水平和金融可得性引致消费增长效应。进一步分析表明,数字金融对中低收入农户、参与互联网理财和网络借贷农户家庭消费的促进作用更大;数字金融的消费增长效应高于同期传统信用卡使用。本文的研究结论为中国新时期扩大数字金融在农村地区的覆盖范围以驱动农户消费发展提供了重要的政策启示。

It is very important for people’s better life and China’s economic transformation to develop consumption with the people as the center and promote the upgrading of rural consumption.Based on the data from the China Household Finance Survey in 2017,this paper studies the impact of digital finance on farmers’consumption through the tool variable method and the tendency score matching method.The study finds that digital finance has a significant effect on farmers’consumption,and digital finance will increase household consumption by 24.50 percent,with 2016 equivalent consumption amounting to 8694.81 yuan.The mechanism analysis shows that digital finance leads to a consumption growth effect by improving the level of non-farm employment and financial accessibility of households.Further analysis shows that digital finance has a greater role in promoting household consumption of low-and middle-income farmers,participating in Internet finance and online lending,and the consumption growth effect of digital finance is higher than that of traditional credit cards in the same period.The conclusion of this paper has important policy enlightenment for expanding the coverage of digital finance in rural areas to drive the consumption development of farmers in the new period of China.