数字金融如何影响农户正规信贷需求？——来自CHFS的证据

基于2015—2019年中国家庭金融调查数据和北大数字普惠金融指数，构造面板数据，使用面板Probit模型、工具变量法和机制检验模型实证检验数字金融对农户正规信贷需求的影响。研究发现，数字金融显著提高了农户生产性正规信贷需求和消费性正规信贷需求的概率。进一步研究发现，数字金融主要通过促进金融知识积累进而提高家庭生产性正规信贷需求，对消费性正规信贷需求的促进作用则通过数字支付渠道实现。

How Does Digital Finance Affect Farmers'' Formal Credit Demand?: Evidence from CHFS

Based on the data of China Household Finance Survey from 2015 to 2019 and the Peking University Digital Financial Inclusion Index, the panel data was constructed. The panel Probit model, instrumental variable method and mechanism test model were used to empirically test the impact of digital finance on the formal credit demand of rural households. It is found that digital finance significantly improves the probability of farmers'' productive formal credit demand and consumption formal credit demand. Further research finds that digital finance mainly enhances the productive formal credit demand of households by promoting the accumulation of financial knowledge, while the promotion effect on the consumption formal credit demand is realized through digital payment channels.