数字金融对城市要素配置效率的影响研究

Research on the Impact of Digital Finance on Urban Factor Allocation Efficiency

新发展格局下,提高城市要素配置效率是建设全国统一大市场的重要途径。基于2011~2020年中国276个地级及以上城市的面板数据,分析数字金融对城市要素配置效率的影响,研究发现:数字金融能够显著提高我国城市的要素配置效率,相较于资本配置效率,数字金融对劳动力配置效率的正向影响更大;异质性分析发现,数字金融对东部地区和大城市要素配置效率的影响较大;中介效应检验发现,在数字金融影响城市要素配置效率的过程中,创新能力和市场化程度是主要传导路径;空间效应检验发现,数字金融对于城市要素配置效率的影响存在正向外溢效应。鉴于此,应优化数字金融空间布局,扩大数字金融应用范围,稳步推进市场化改革,从而提高城市要素配置效率。

Under the new development pattern,improving urban factor allocation efficiency is an important way to build a unified national market.Based on the panel data of 276 prefecture-level cities in China from 2011 to 2020,the impacts of digital finance on urban factor allocation efficiency are explored in this paper.The research finds that digital finance can significantly improve the factor allocation efficiency of Chinese cities.Compared with capital allocation efficiency,digital finance plays a greater role in promoting labor allocation efficiency.Heterogeneity test results show that digital finance has a greater impact on the allocative efficiency of factors in eastern China and big cities.The mediation effect test shows that innovation ability and marketization degree are the main transmission paths in the process of digital finance affecting the allocation efficiency of urban factors.The spatial effect test shows that digital finance has a positive spillover effect on urban factor allocation efficiency.Therefore,it is necessary to optimize the spatial layout of digital finance,expand the application scope of digital finance,and steadily promote market-oriented reform,so as to improve the urban factor allocation efficiency.