This paper represents an early attempt to investigate whether digital finance driven by the internet revolution helps promote inclusive growth in China.We match the Index of Digital Financial Inclusion,which measures ...This paper represents an early attempt to investigate whether digital finance driven by the internet revolution helps promote inclusive growth in China.We match the Index of Digital Financial Inclusion,which measures digital finance development in China,with data of the China Family Panel Studies(CFPS),which provide representative household survey data in China.Firstly,based on sub-sample empirical analysis,we find that digital finance has helped increase household income,especially rural household income,in China.Thus,digital finance is conducive to inclusive growth in China by narrowing regional and urban-rural gaps.Secondly,we examine how digital finance spurs inclusive growth in China by bringing rural households equal access to entrepreneurship opportunities.Lastly,we uncover how digital finance interacts with physical capital and social capital in promoting entrepreneurship,concluding that households with less physical or social capital had bene fited more,which is also conducive to inclusive growth.展开更多
收入不均等、贫困和中等收入群体占比等指标广受决策界、社会、学术界,乃至媒体的关注,也是众多经济社会变量(如增长、消费、投资、教育、健康和犯罪等等)的重要决定因素之一,但鲜有文献将其纳入到实证模型里,原因往往在于相关指标或数...收入不均等、贫困和中等收入群体占比等指标广受决策界、社会、学术界,乃至媒体的关注,也是众多经济社会变量(如增长、消费、投资、教育、健康和犯罪等等)的重要决定因素之一,但鲜有文献将其纳入到实证模型里,原因往往在于相关指标或数据的缺失.此外,家户调查数据顶端和底端的观察值也常常缺失,给实证估算带来偏差.本文基于2018年的中国家庭追踪调查(CFPS)数据,评估了由Shorrocks and Wan (2009)提出的基于分组数据“还原”个体观察值,进而估算不均等和贫困等指标的方法,并引入条件分布对Shorrocks and Wan (2009)的方法进行拓展,以便考虑收入分布顶端和底端的数据缺失问题.结果显示,假设变量服从Dagum分布,而非Shorrocks and Wan (2009)所使用的对数正态分布,可以使“还原”偏差保持在可接受的范围内.此外,本文对Shorrocks and Wan(2009)的方法的拓展,能够明显降低数据截断所导致的“还原”偏差,而且在该方法下Dagum分布依然占优.本文的发现表明,后续研究可在Dagum分布的假设下,对各省统计年鉴中提供的收入分组数据进行“还原”,然后测算各省的收入不均等、贫困和中等收入群体占比等等指标,并据此展开经济学分析,至少应该将相关指标纳入到实证研究中,以减少相关指标和模型估算偏误.展开更多
基金the sponsorships from the National Natural Sciences Foundation of China (NSFC) (Key Project Grant No.: 71833003Youth Program Grant No.: 71703088)the Institute of Digital Finance, Peking University。
文摘This paper represents an early attempt to investigate whether digital finance driven by the internet revolution helps promote inclusive growth in China.We match the Index of Digital Financial Inclusion,which measures digital finance development in China,with data of the China Family Panel Studies(CFPS),which provide representative household survey data in China.Firstly,based on sub-sample empirical analysis,we find that digital finance has helped increase household income,especially rural household income,in China.Thus,digital finance is conducive to inclusive growth in China by narrowing regional and urban-rural gaps.Secondly,we examine how digital finance spurs inclusive growth in China by bringing rural households equal access to entrepreneurship opportunities.Lastly,we uncover how digital finance interacts with physical capital and social capital in promoting entrepreneurship,concluding that households with less physical or social capital had bene fited more,which is also conducive to inclusive growth.
文摘收入不均等、贫困和中等收入群体占比等指标广受决策界、社会、学术界,乃至媒体的关注,也是众多经济社会变量(如增长、消费、投资、教育、健康和犯罪等等)的重要决定因素之一,但鲜有文献将其纳入到实证模型里,原因往往在于相关指标或数据的缺失.此外,家户调查数据顶端和底端的观察值也常常缺失,给实证估算带来偏差.本文基于2018年的中国家庭追踪调查(CFPS)数据,评估了由Shorrocks and Wan (2009)提出的基于分组数据“还原”个体观察值,进而估算不均等和贫困等指标的方法,并引入条件分布对Shorrocks and Wan (2009)的方法进行拓展,以便考虑收入分布顶端和底端的数据缺失问题.结果显示,假设变量服从Dagum分布,而非Shorrocks and Wan (2009)所使用的对数正态分布,可以使“还原”偏差保持在可接受的范围内.此外,本文对Shorrocks and Wan(2009)的方法的拓展,能够明显降低数据截断所导致的“还原”偏差,而且在该方法下Dagum分布依然占优.本文的发现表明,后续研究可在Dagum分布的假设下,对各省统计年鉴中提供的收入分组数据进行“还原”,然后测算各省的收入不均等、贫困和中等收入群体占比等等指标,并据此展开经济学分析,至少应该将相关指标纳入到实证研究中,以减少相关指标和模型估算偏误.
