金融科技发展对我国共同富裕的影响——基于畅通国内大循环的视角

The Impact of Financial Technology Development on China's Common Prosperity:From the Perspective of Promoting Domestic Circulation

金融科技兼具金融性、普惠性和科技性.在新发展格局下,扎实推进我国共同富裕离不开金融科技的支撑.本文首先基于我国2011–2020年省际面板数据,从发展性、共享性和可持续性三个特征维度构建共同富裕综合指数及子指数,进而研究金融科技发展对我国共同富裕的影响效应和作用机制.结果表明,金融科技发展能够显著促进我国共同富裕.进一步研究发现,金融科技发展的覆盖广度对我国共同富裕的促进效果更为明显,且对共同富裕的可持续性有更强的促进作用,发展性次之、共享性最弱.机制分析表明,金融科技发展能够促进人力资本积累、提升市场化程度、促进流通业发展、提振居民消费,通过畅通国内大循环助力我国共同富裕.异质性检验发现,金融科技发展中存在区域马太效应,而提升创新活跃度有助于缓解金融科技的马太效应.为此,本文提出持续推动金融科技提质增效,改善国内大循环的各个环节,增强数字基础资源倾斜力度,提升区域创新活力,从而使金融科技更有效地发挥其效能,为实现我国共同富裕增添动力.

Financial Technology(FinTech)combines financial,inclusive and technological aspects.Under the new development pattern,promoting China's common prosperity cannot be separated from the support of FinTech.Based on the provincial panel data of China from 2011 to 2020,this paper first constructs the common prosperity index from the three dimensions of development,sharing and sustainability,and then examines the impact and function mechanisms of FinTech development on China's common prosperity.The results show that FinTech development can significantly promote China's common prosperity.Further analysis reveals that the coverage of FinTech has a more significant promoting effect on China's common prosperity,and the promotional effect of FinTech development is more obvious on the sustainability of common prosperity,followed by development and the weakest sharing.The results of mechanism analysis show that FinTech development can promote human capital accumulation,enhance marketization,promote the development of the circulation industry,boost residents'consumption,and thus contribute to China's common prosperity by smoothing the domestic circulation.Heterogeneity testing indicates that there exists a regional Matthew effect in FinTech development,but this effect can be mitigated by increasing innovation activities.Therefore,this paper proposes to continuously improve the quality and efficiency of FinTech development,smooth the domestic circulation,strengthen the tilt of digital basic resources,and enhance regional innovation vitality,so as to make FinTech more effective in adding impetus to the realization of China's common prosperity.