数字普惠金融发展与居民消费升级

Development of Digital Inclusive Finance and Upgrading of Residents’Consumption

在数字经济高速发展的大背景下,数字普惠金融对我国居民消费升级的推动作用日益增强。文章基于我国2011-2020年的省级面板数据,实证检验了数字普惠金融发展对我国居民消费升级的影响,并构建中介效应模型检验了其作用机制。研究发现,数字普惠金融显著提高了居民发展型消费的规模和占比,从规模和结构两个方面促进了居民消费升级。作用机制分析表明,数字普惠金融提高了地区第三产业和高技术劳动者的就业比重,该就业结构的变化促进了地区居民收入和消费水平的提高。异质性分析结果显示,数字普惠金融对居民消费的促进效应在农村地区和东部地区明显更强。

In the context of the rapid development of digital economy,the role of digital inclusive finance in promoting the upgrading of Chinese residents’consumption is increasing.Based on the provincial panel data of China from 2011 to 2020,this paper empirically tests the impact of the development of digital inclusive finance on the consumption upgrading of Chinese residents,and constructs an intermediary effect model to test its mechanism.The study finds that digital inclusive finance significantly increases the scale and proportion of residents’development-oriented consumption,and promotes the upgrading of residents’consumption from both scale and structure.The mechanism analysis shows that digital inclusive finance has increased the employment proportion of the tertiary industry and high-tech workers in the region,and that the change of the employment structure has promoted the improvement of the income and consumption level of the residents in the region.The results of heterogeneity analysis show that the promotion effect of digital inclusive finance on residents’consumption is significantly stronger in rural area and eastern region.