数字普惠金融与新质生产力:影响效应及机制检验

Digital Inclusive Finance and New Quality Productivity:Impact Effects and Mechanism Testing

宏观经济增速放缓已成共识,如何借助新质生产力摆脱传统经济增长方式、赋能数字经济引擎日益成为时代议题。基于2011—2021年省级面板数据,实证分析了数字普惠金融对新质生产力的影响,检验了其对市场化水平提升与产业结构升级的影响机制。研究发现,数字普惠金融显著促进新质生产力发展,影响效应在数字金融覆盖广度与我国东部地区表现得更加突出。影响机制分析表明,数字普惠金融会通过提升市场化水平以及驱动产业结构升级的微观作用机理催生新质生产力,促进作用还存在市场化水平提升和产业结构升级的门槛效应。据此,提出加快数字基础设施建设,释放普惠金融辐射带动效应;强调市场经济资源配置主导作用,破除新质生产要素组合优化壁垒;金融赋能传统生产方式改造,数字驱动产业结构升级;关注影响效应的门槛特征,协同制度构建与金融资源适度供给等对策建议。

The slowdown in macroeconomic growth has become a consensus,and how to leverage new quality productivity to break away from traditional economic growth and empower the digital economy engine has become an increasingly urgent issue of the times.Based on provincial panel data from 2011-2021,this paper empirically analyzes the impact of digital inclusive finance on new quality productivity,and examines the impact mechanism of the improvement of marketization level and the upgrading of industrial structure.Research has found that digital inclusive finance significantly promotes the development of new quality productivity,and the impact effect is more prominent in the high coverage of digital finance and the eastern region of China.The analysis of the impact mechanism shows that digital inclusive finance will stimulate new quality productivity through the micro mechanism of improving marketization level and driving industrial structure upgrading,and there is also a threshold effect in the promotion of marketization level and the upgrading of industrial structure.Based on this,it is proposed to accelerate the construction of digital infrastructure and unleash the radiation and driving effect of inclusive finance;Emphasizing the leading role of market economy in resource allocation and breaking down barriers to optimizing the combination of new quality production factors;Financial empowerment of traditional production methods and digital driven industrial structure upgrading;Pay attention to the threshold characteristics of the impact effect,and propose countermeasures such as the construction of collaborative systems and moderate supply of financial resources.