数字普惠金融对新质生产力的影响及作用机制研究

The Study on the Impact of Digital Inclusive Finance on New Quality Productivity and Its Mechanism of Action

新质生产力是中国经济高质量发展的重要着力点,而数字普惠金融则是推动新质生产力发展的关键动力之一。将数字普惠金融融入到新质生产力的发展中,不仅能够有效提升金融服务的效率和质量,还能够为新质生产力的发展提供有力的金融支持,推动中国经济实现高质量发展。论文利用2012—2021年中国30个省(自治区、直辖市,不含西藏自治区与港澳台地区)的面板数据,系统考察了数字普惠金融对新质生产力的影响及其作用机制。研究表明:数字普惠金融显著推动了新质生产力发展,在进行了内生性检验后,结论仍然成立;机制检验表明,数字普惠金融通过推动产业结构升级对新质生产力产生影响,同时市场化程度在数字普惠金融与新质生产力发展之间发挥正向调节作用。此外,数字普惠金融作用于新质生产力时存在自身双重门槛效应。论文研究结论有助于深入理解数字普惠金融对新质生产力影响的内在机制,为实现高质量发展提供更加有效的路径选择与理论支撑。

New quality productivity is an important focus point for the high-quality development of China's economy,while digital inclusive finance is one of the key driving forces for the development of new quality productivity.Integrating digital inclusive finance into the development of new quality productivity can not only effectively improve the eficiency and quality of financial services,but also provide strong financial support for the development of new quality productivity and promote China's economy to achieve high-quality development.This paper systematically examines the impact of digital financial inclusion on new quality productivity and its mechanism of action by using panel data from 30 provinces,autonomous regions,and municipalities directly under the central government(excluding Tibet Autonomous Region,Hong Kong,Macao,and Taiwan)in China from 2012 to 2021.The study shows that digital inclusive finance significantly promotes the development of new quality productivity,and the conclusion still holds after the endogeneity test;the mechanism test shows that digital inclusive finance affects new quality productivity by promoting industrial structure upgrading,while the degree of marketisation plays a positive moderating role between digital inclusive finance and the development of new quality productivity.In addition,digital inclusive finance has its own double-threshold effect when it acts on new quality productivity.The findings of this paper help to understand the internal mechanism of the impact of digital inclusive finance on the new quality productivity,and provide a more effective path choice and theoretical support for the realisation of high-quality development.