移动支付与县域经济增长

Mobile Payments and County Economic Growth

《财经研究》2023年49卷第8期 页码：124 - 138 online：2023年8月3日

作者

中：尹志超 , 吴子硕

英：Yin Zhichao, Wu Zishuo

作者单位：首都经济贸易大学 金融学院，北京 100070

摘要及关键词

摘要：经济高质量发展是全面建设社会主义现代化国家的必然要求。依托于数字技术的移动支付能否为中国经济高质量发展提供新引擎、新动能？文章使用2016—2020年中国县域数据及北京大学县域数字普惠金融数据，运用双向固定效应和工具变量法实证研究了移动支付对县域经济增长的影响。研究发现，移动支付可以显著促进县域经济增长，移动支付指数每提高1%，县域实际GDP提高约1849万元。机制分析表明，缓解信息不对称、降低金融约束、缓解市场规模约束以及促进创业、带动就业是移动支付发挥作用的主要渠道。异质性分析显示，移动支付对贫困县、西部地区、低经济发展区域的经济有更为显著的正向推动作用，表明移动支付能够发挥普惠效应，从而为实现共同富裕提供推动力。进一步分析表明，移动支付与“电子商务进农村综合示范”项目在促进县域经济增长中存在协同作用。文章的研究为移动支付对县域经济的增长效应提供了经验证据，也为相关政策制定提供了参考依据。

关键词：移动支付；县域经济增长；普惠效应；共同富裕

Summary: As an important part of the national economy, the county economy is the best bridge for urban-rural connections. Faced with the increasingly complex international environment and increasing economic downward pressure, policymakers are concerned about how to promote county economic growth. As a new payment method, mobile payments play an important role in promoting the development of inclusive finance and resident employment. Therefore, it is of great practical significance to study the impact of mobile payment on county economic growth. This paper uses a two-way fixed effect model to analyze the impact of mobile payments on county economic growth. The findings are as follows: First, mobile payments can significantly promote county economic growth. Second, mobile payments can stimulate county economic growth by alleviating information asymmetry, reducing financial constraints, easing market-size constraints, promoting entrepreneurship, and driving employment. Third, mobile payments have a greater role in promoting the economy of impoverished counties and western regions. Fourth, there is synergy between mobile payments and the “comprehensive demonstration project of e-commerce into rural areas” in promoting county economic growth. The policy suggestions are as follows: First, the investment in the construction of new infrastructure in impoverished counties and western regions should be increased to make the development of mobile payments more inclusive. Second, the financial function of mobile payments should be optimized to maximize the universal benefit. Third, the multi-dimensional path of mobile payments should be explored to promote employment and maximize the employment effect of mobile payments. Fourth, the “comprehensive demonstration project of e-commerce into rural areas” should be promoted to strengthen the effect of mobile payments. The contributions of this paper are as follows: First, it analyzes the role of mobile payments in economic growth from the county level, providing an empirical basis for the relationship between mobile payments and county economic growth. Second, it makes an in-depth analysis of the specific channels through which mobile payments play their role, providing evidence for understanding the channels through which mobile payments affect county economic development. Third, it analyzes the impact of mobile payments on impoverished counties and western regions, and proves the inclusive role of mobile payments, providing indirect evidence for narrowing the economic development gap between different counties and realizing common prosperity. Fourth, it further explores the role of mobile payments in county economic growth from the perspective of “comprehensive demonstration project of e-commerce into rural areas”, and finds that the project and mobile payments have a synergistic effect and they jointly promote county economic growth, providing policy enlightenment for improving the project and developing mobile payments.

Key words: mobile payment; county economic growth; universal benefit effect; common prosperity

其他信息

DOI：10.16538/j.cnki.jfe.20230418.402

收稿日期：2022-11-25

基金项目：国家社会科学基金重点项目（20AJL016）；首都经济贸易大学学术新人计划（2023XSXR17）

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