摘要
数字金融通过科技赋能传统金融重塑金融体系,为包容性增长提供了可能。本文实证检验数字金融是否能够在城市创新层面发挥普惠作用。研究结果表明:数字金融能够显著提升城市创新水平,且覆盖广度和使用深度具有同样重要的作用;数字金融具有填平城市间创新鸿沟的普惠作用,其对中小城市的作用更显著,不仅能够帮助中小城市缓解外部虹吸效应,还能激发城市内部冒险精神;机制分析表明数字金融可以通过提高银行业竞争、提高市场化水平以及提升市场潜力三条渠道促进城市创新。上述结论在使用工具变量克服内生性以及系列稳健性检验后仍成立,这为优化数字金融的普惠功能、驱动区域创新发展提供明晰的经验证据和政策启示。
Digital finance reshapes the financial system through the empowerment of traditional finance through technology and provides the possibility for inclusive growth.This article empirically tests whether digital finance can play a universal role in urban innovation.The results show that:Digital finance can significantly improve the level of urban innovation,and the breadth of coverage and depth of use are equally important;Digital finance has the inclusive effect of bridging the innovation gap between cities,which is mainly reflected in its more significant effect on small and medium-sized cities.It can not only help small and medium-sized cities alleviate the external siphon effect,but also stimulate the spirit of adventure within the city;Mechanism analysis shows that digital finance can promote urban innovation through three channels:improving banking competition,improving marketization,and enhancing market potential.The above conclusion remains the same after using instrumental variables to overcome endogenity and a series of robustness tests.The research conclusions provide clear empirical evidence and policy inspiration for optimizing the inclusive function of digital finance and driving regional innovation and development.
作者
潘爽
叶德珠
叶显
Pan Shuang;Ye De-zhu;Ye Xian
出处
《经济学家》
CSSCI
北大核心
2021年第3期101-111,共11页
Economist
基金
国家社会科学基金重点项目“金融与实体经济的结构匹配及其经济增长效应研究”(19AJY026)
关键词
数字金融
城市创新
虹吸效应
普惠
Digital Finance
Urban Innovation
Siphon Effect
Inclusive
