数字普惠金融与中国农村家庭财富差距

促进农民增收致富和推动乡村振兴是二十大关注的重要问题。本文使用中国家庭金融调查数据和数字普惠金融指数,用分位回归方法分析了数字普惠金融对中国农村家庭财富差距的影响。结果发现：数字普惠金融可以显著提高农村家庭财富,有助于缩小家庭财富差距。随着家庭财富由低到高,数字普惠金融对于农村不同财富家庭总资产的正向影响由大到小。由于不同财富家庭的负债结构差异较大,随着财富由低到高,数字普惠金融对家庭净资产的影响则由小到大。夏普里值分解结果表明,数字普惠金融对农村家庭财富差距的贡献度近三分之一。异质性分析表明,数字普惠金融发展对于低收入家庭和低教育水平家庭财富的正向作用更强,进一步证明了上述结论。机制分析表明,数字普惠金融能显著促进农村家庭特别是低财富家庭的创业行为,而创业对于最低财富组家庭资产的正向刺激作用最强；受流动性约束可能性越大的低财富家庭,越能从数字普惠金融的发展中获益。因而进一步证实数字普惠金融可以缩小农村家庭财富差距。本文的研究说明,发展数字普惠金融对于探索农民致富路径和推进乡村振兴有积极作用。

Digital Inclusive Finance and Household Wealth Gap in Rural China

Promoting wealth increase and rural revitalization are important topics in China. This paper uses CHFS data, provincial Digital Inclusion Financial Index and quantile regression method to analyze the effect of digital inclusive finance on wealth gap in rural China. The empirical results show that digital inclusive finance could increase rural household wealth and narrow the wealth gap significantly. The impact of digital inclusive finance on total assets gradually decreases with rural household wealth. Because of the different debt structure for different wealth group, the effect of digital inclusive finance on net assets increases with rural household wealth. Shapley decomposition method shows that rural household wealth is explained one third by digital inclusive finance. Heterogeneity analysis shows that the positive effects of digital inclusive finance on wealth are stronger for low income and low education households. Moreover, digital inclusive finance could stimulate entrepreneurship of low wealth households. Entrepreneurship has stronger positive impact on the wealth of lower wealth group. Low wealth group who is affected by liquidity constraint could benefit more from the development of digital inclusive finance. Thus, digital inclusive finance could narrow rural household wealth gap. The results of this paper show that the development of digital inclusive finance has a positive effect on rural household wealth increase and rural revitalization.