摘要
农村金融市场结构是农村金融改革发展的缩影,决定了农村金融整体效能,经济学通常用市场集中度衡量市场结构。当前,随着农村经济社会进入数字时代,农村金融市场再次面临前所未有的重大变革。本文从数字化视角切入,深入剖析历次农村金融改革的宏观环境和微观机理,运用40余万条数据全面还原不同时期农村金融市场结构的原貌,回溯其演变的成因及影响。在此基础上,本文采用连续DID模型和分位数回归模型,多维度验证数字化与农村金融市场集中度(HHI)的相互关系,揭示了数字化对农村金融市场结构变革的颠覆性影响,提出农村金融市场改革要因应变化,结合数字经济、数字金融的优势及天然缺陷构建适宜的农村金融市场环境,机制设计既要“瞻前”,也要“顾后”,持续优化农村金融市场结构。
Rural financial market structure is a microcosm of rural financial reform and development and determines the overall effectiveness of rural finance, which is usually measured by market concentration in economics. Currently, as the rural economy and society enter the digital era, the rural financial market is once again facing unprecedented major changes. This paper provides an in-depth analysis of the macro environment and micro mechanism of the previous rural financial reforms from a digital perspective, using more than 400,000 data to comprehensively restore the original structure of the rural financial market in different periods and retrace the causes and impacts of its evolution. On this basis, this paper uses continuous DID model and quantile regression model to verify the correlation between digitalization and rural financial market concentration(HHI) in multiple dimensions,revealing the disruptive impact of digitalization on the structural change of rural financial market, and suggesting that rural financial market reform should respond to the changes, combine the advantages and natural defects of digital economy and digital finance to build a suitable rural financial market environment, and the design of the mechanism should be both "forward-looking" and "backward-looking" to continuously optimize the structure of the rural financial market.
出处
《西南金融》
北大核心
2023年第1期71-86,共16页
Southwest Finance
关键词
数字化
数字经济
数字金融
乡村振兴
农村经济
农村金融
市场结构
市场集中度
digitalization
digital economy
digital finance
rural revitalization
rural economy
rural finance
market structure
market concentration
