数字普惠金融、农村三产融合与农村居民收入--基于2011-2020年中国省级面板数据的实证分析

Digital Inclusive Finance,Rural Integration of Three Industries and Rural Resident Income--Empirical Analysis Based on China's Provincial Panel Data from 2011 to 2020

基于2011-2020年我国30个省(直辖市、自治区)的面板数据,利用固定效应模型(FEM)实证分析数字普惠金融对农村居民收入的影响,并采用中介效应模型考察了农村三产融合的中介作用,同时对东中西部地区进行了异质性分析,利用滞后一期核心解释变量和替换被解释变量进行了稳健性检验。研究发现:第一,数字普惠金融显著地提高了农村居民收入水平,但存在区域异质性,东部地区数字普惠金融对农村居民的增收作用最强,中西部次之;第二,农村三产融合在数字普惠金融与农村居民收入之间起着重要的中介作用,在进行解释变量滞后一期和替换被解释变量的稳健性检验后仍然成立。因此,一方面,要完善农村地区数字基础设施,提高农村居民金融素养,进一步激发数字普惠金融对农民增收的作用;另一方面,要破解农村三产融合的金融约束,完善利益联接机制,充分发挥农业三产融合的中介效应,最终提高农村居民收入水平,实现共同富裕。

based on the panel data of 30 provinces(cities and autonomous regions)in China from 2011 to 2020,this study uses the fixed effect model(FEM)to empirically analyze the impact of digital inclusive finance on rural residents'income,and the mesomeric effect model is used to investigate the intermediary role of rural integration of three industries.At the same time,the heterogeneity analysis is carried out for the eastern,central and western regions,and the robustness test is carried out by using the core explanatory variables and replacement explanatory variables of the first lag period.Research has found that:firstly,digital inclusive finance significantly improves the income level of rural residents,but there is regional heterogeneity,and the eastern region has the strongest effect of digital inclusive finance on increasing income for rural residents,followed by the central and western regions;secondly,the integration of three industries in rural areas plays an important intermediary role between digital inclusive finance and rural residents'income,which is still valid after the robustness test of the lag of explanatory variables and the replacement of explanatory variables.Therefore,on one hand,it is necessary to improve the digital infrastructure in rural areas,enhance the financial literacy of rural residents,and further stimulate the role of digital inclusive finance in increasing farmers'income.On the other hand,it is necessary to break the financial constraints of the integration of three industries in rural areas,improve the interest linkage mechanism,give full play to the mesomeric effect of the integration of the three industries,and ultimately improve the income level of rural residents to achieve common prosperity.