数字普惠金融能否推进共同富裕？——基于微观家庭数据的经验研究

《财经研究》 2022年48卷第7期 页码：4 - 17  online：2022年7月1日

数字普惠金融能否推进共同富裕？——基于微观家庭数据的经验研究

Can Digital Inclusive Finance Promote Common Prosperity? An Empirical Study Based on Micro Household Data

作者（中）：张金林1, 董小凡1, 李健2

作者（英）：Zhang Jinlin1, Dong Xiaofan1, Li Jian2

作者单位：1.中南财经政法大学 金融学院, 湖北 武汉 430073 2.山东财经大学 金融学院, 山东 济南 250014

摘要：共同富裕是社会主义本质要求，也是全体人民的共同愿景，如何推进共同富裕是当前我国面临的重大问题。文章基于CHFS微观调查数据构建了共同富裕指数， 探究了数字普惠金融对共同富裕的影响。研究发现：第一，数字普惠金融能够推进共同富裕，其中创业活跃度的提升是数字普惠金融推进共同富裕建设的重要路径；第二，在偿债能力低、金融市场参与度低以及农村地区的家庭中，数字普惠金融的“马太效应”更加明显；第三，完善数字基础设施、普及数字工具以及提高个体金融素养能够减轻“马太效应”，提升数字普惠金融服务质效，从而推进共同富裕。文章厘清了数字普惠金融在推进共同富裕过程中的作用与路径，为共同富裕建设提供了政策依据。

关键词：数字普惠金融; 共同富裕; 创业活跃度; 马太效应

Summary: Common prosperity is an important exploration and goal of socialism with Chinese characteristics in the new era. At present, there is still a large gap between urban and rural areas, and the low proportion of middle-income groups in China, which leads to the realization of the goal of common prosperity, may be long-term and arduous. Therefore, how to make progress in stability and promote the process of common prosperity is an important problem to be solved urgently.Based on the data of China Household Finance Survey (CHFS) in 2013, 2015 and 2017, this paper constructs the micro common prosperity index from the three dimensions of material wealth, spiritual wealth and social sharing, and matches it with the digital inclusive financial index compiled by the Peking University Digital Finance Center to explore the impact of digital Inclusive Finance on common prosperity. Using the two-way fixed effect model, we find that digital inclusive finance can significantly promote common prosperity, and the improvement of entrepreneurial activity is an important path for digital finance to promote common prosperity. However, digital inclusive finance has a more significant “Matthew effect” for families with poor financial status, low participation in financial market and in rural areas. Therefore, improving digital infrastructure, popularizing digital tools and improving individual financial literacy can effectively bridge the “digital divide” and reduce the “Matthew effect”, so as to effectively improve the quality and efficiency of digital inclusive financial services and promote the realization of the goal of common prosperity.This paper makes the following contributions: First, it refines the common prosperity to the individual level for the first time, and constructs a multi-dimensional coupled common prosperity index from the micro perspective. Second, it empirically tests the promotion effect of digital inclusive finance on common prosperity at the material, spiritual and sharing levels. Third, it explores the channels to alleviate the “Matthew effect” of digital inclusive finance from the perspective of digital endowment and knowledge literacy.Based on the empirical conclusions, this paper suggests that the government should improve the construction of digital infrastructure in backward areas, promote the popularization of economic smart phones for rural residents, and narrow the difference of external digital resource endowment among residents; strengthen the public training of residents’ basic financial knowledge and improve residents’ basic financial literacy, so as to fully improve the accessibility of digital financial services and products and provide the possibility for low-income people to increase their property income; further guide digital inclusive finance to focus on serving underdeveloped areas, promote complementarity with traditional finance, narrow the income gap between urban and rural areas, reduce the “Matthew effect”, and promote common prosperity.

Key words: digital inclusive finance; common prosperity; entrepreneurial activity; Matthew effect

DOI：10.16538/j.cnki.jfe.20220316.101

收稿日期：2021-11-23

基金项目：国家社会科学基金项目“金融科技背景下普惠金融机制与路径研究”（19BJY250）；中南财经政法大学中央高校基本科研业务费专项资金（202110591）

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