金融技术进步的稳就业效应:基于异质性信贷扩张视角

The Employment Effect of Bank Fintech:A Perspective on Heterogeneous Credit Expansion

金融领域技术进步有利于提升信贷市场完备性,降低企业融资限制,进而促使企业通过生产扩张实现就业创造。本文利用中国商业银行2010-2018年金融科技专利数据,提供了银行业技术进步推动实体部门就业扩张的证据,研究发现银行业金融科技对企业就业具有显著促进效应。相比于非增长型企业,增长型企业在银行信息甄别水平提升后能够获取更多信用贷款并增加劳动力需求。在数字化转型程度较高的企业、劳动力规模较大的地区和制造业企业中,银行金融科技的就业促进作用更为显著。此外,增长型企业驱动的就业创造不会降低劳动收入份额,并且就业扩张效应在增长型中小企业中同样成立。本研究对于如何在数字金融冲击下构建更加完善的就业促进机制具有重要参考意义。

Technological advancements in the financial sector enhance the completeness of credit markets and reduce corporate financing constraints,thereby enabling firms to create jobs through production expansion.Using fintech patent data from Chinese commercial banks between 2010 and 2018,this paper provides evidence that technological progress in the banking industry promotes employment expansion in the real economy.Our findings indicate that banking fintech has a significant positive effect on corporate employment.Compared to non-growth firms,growth firms can obtain more credit loans and increase labor demand following improvements in banks'information screening capabilities.The employment-promoting effect of banking fintech is more pronounced in firms with a higher degree of digital transformation,in regions with larger labor forces,and in manufacturing firms.Furthermore,the low-skilled job creation driven by growth firms does not reduce the labor income share,and employment expansion is also observed in growth-oriented small and medium-sized enterprises.This study has important implications for constructing more effective financial support mechanisms to promote high-quality employment under the impact of digital finance.