数字普惠金融、流动性约束与共同富裕

Digital Inclusive Finance,Liquidity Constraints and Common Prosperity

数字普惠金融发展可降低金融服务门槛、交易成本与信用风险,为我国财富积累和均衡发展赋予新动能,进而推动共同富裕。选取2010—2021年中国30个省级面板数据,实证探究数字普惠金融对共同富裕的影响。研究显示,数字普惠金融对于扎实推进共同富裕具有积极作用,此结论经稳健性与内生性等检验后仍成立。异质性结果表明,2016—2021年间,数字普惠金融对共同富裕提升效应在中部和西部地区更显著。机制研究发现,数字普惠金融能够通过缓解流动性约束提高共同富裕水平。为此,提出健全数字普惠金融配套设施、制定差异化数字普惠金融发展方案与破除流动性约束限制的对策建议,期冀为扎实推进共同富裕提供经验参照。

The development of digital financial inclusion can reduce the threshold of financial services,transaction costs and credit risks,give new impetus to China's wealth accumulation and balanced development,and then promote common prosperity.Select the panel data of 30 provinces in China from 2010 to 2021,this paper empirically explores the impact of digital financial inclusion on common prosperity.Research shows that digital financial inclusion plays a positive role in solidly promoting common prosperity,and this conclusion is still valid after robustness and endogeneity tests.The heterogeneity results show that in the central and western regions and the period from 2016 to 2021,digital financial inclusion has a more significant effect on common prosperity.Mechanism research finds that digital financial inclusion can improve the level of common prosperity by easing liquidity constraints.To this end,we propose to improve the supporting facilities of digital financial inclusion,formulate differentiated digital financial inclusion development plans and break the liquidity constraints,hoping to provide experience and reference for the solid promotion of common prosperity.