摘要
中央金融工作会议强调,坚持把金融服务实体经济作为根本宗旨。数字金融作为数字技术与金融业态融合创新的产物,对提升金融服务效率,支持实体经济高质量发展具有重要意义。基于2011-2021年中国31个省级行政区的平衡面板数据,通过构建实体经济高质量发展指标体系和嵌套空间权重矩阵,运用空间计量模型、动态杜宾模型和中介效应检验方法,实证研究数字金融创新对实体经济高质量发展的直接影响、溢出效应和作用机制,得出:数字金融创新不仅能直接促进本地区实体经济的高质量发展,而且具有正向空间溢出效应,对邻近地区实体经济高质量发展呈现渐进、动态的长期影响。中介效应检验结果表明,提升金融服务效率是数字金融创新促进实体经济高质量发展的主要作用机制。在金融科技创新监管试点地区,数字金融创新对实体经济高质量发展的直接影响、溢出效应和中介效应均明显高于非试点地区。因此,要稳步推进金融科技创新监管试点,优化数字金融业态空间布局,畅通数字金融促进实体经济高质量发展的传导机制。
The Central Financial Work Conference stressed that the fundamental purpose of financial services is to serve the real economy.As a product of the integration and innovation of digital technology and financial industry,digital finance is of great significance to improve the financial service efficiency and support the high-quality development of the real economy.Based on the balanced panel data of 31 provincial-level regions in China from 2011 to 2021,and by constructing the high-quality development index system of real economy and the nested spatial weight matrix,using the spatial econometric model,the dynamic Durbin model and the mediating effect test method,this paper empirically studies the direct impact,the spillover effect and the mechanism of digital finance innovation on the high-quality development of the real economy.It is concluded that digital finance innovation can not only directly promote the high-quality development of the real economy in same region,but also has a positive spatial spillover effect,which showing a gradual and dynamic long-term impact on the high-quality development of the real economy in neighboring areas.The mediating effect test shows that digital finance innovation promotes the high-quality development of the real economy mainly by mechanism of improving the financial service efficiency.In the FinTech innovation supervision pilot areas,the direct impact,the spillover effect and the mediating effect of digital finance innovation on the high-quality development of the real economy are significantly higher than those in the non-pilot areas.Therefore,it is necessary to steadily promote the pilot of FinTech innovation supervision,optimize the spatial layout of digital financial industry and unblock the transmission mechanism of digital finance to promote the high-quality development of the real economy.
作者
周雷
张鑫
董珂
ZHOU Lei;ZHANG Xin;DONG Ke(School of Business,Suzhou Vocational University,Suzhou 215104,China;School of Economics and Management,Southeast University,Nanjing 211189,China)
出处
《西安财经大学学报》
2024年第1期60-72,共13页
Journal of Xi’an University of Finance and Economics
基金
国家社会科学基金项目“互联网金融市场跨界风险的协同监管长效机制与政策研究”(21BJY022)
教育部人文社会科学研究青年基金项目“数字金融服务实体经济高质量发展研究:宏观影响与微观机制”(23YJC790206)
江苏省社会科学应用研究精品工程课题“江苏数字金融产业支持实体经济高质量发展研究”(23SYB-036)
苏州市职业大学科研项目“数字金融创新支持实体经济高质量发展研究:宏观影响与微观机制”(SVU2023YY04)。
关键词
数字金融
高质量发展
金融服务效率
实体经济
空间溢出效应
digital finance
high-quality development
financial service efficiency
real economy
spatial spillover effect
