| 摘要: |
| 本文基于中国数字金融研究中心2019年发布的省级数字普惠金融指数，考察了数字普惠金融对经济增长质量的影响。利用全要素生产率指数衡量经济增长质量，运用工具变量法考察数字普惠金融对经济增长质量的影响，并通过中介效应模型检验数字普惠金融影响经济增长质量的机制。结果表明，数字普惠金融与中国经济增长质量之间呈现“U”型曲线关系，二者存在以企业技术创新为中介渠道的传导机制，即数字普惠金融通过缓解企业的创新融资约束，激励创新研发活动，进而间接影响经济增长质量。此外，数字普惠金融对中国经济增长质量的影响存在区域异质性，表现在对中东部地区经济增长质量的影响程度显著高于西部地区。 |
| 关键词: 数字普惠金融；经济增长质量；企业技术创新；全要素生产率指数 |
| DOI： |
| 分类号:〖HT5”SS〗F832.7 |
| 基金项目:国家自然科学基金项目“农村家庭负债分布及其对消费的影响研究”（71963028）；宁夏高等学校一流学科建设（理论经济学）资助项目（NXYLXK2017B04）。 |
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| Digital Inclusive Finance，Enterprises Technology Innovation，and the Quality of Economic Growth |
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CHEN Qing-hua1，WANG Yan2，HE Jing-yi31,2,3
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1.School of Economics and Management，Ningxia University;2.2.School of Economics and Business Administration，Chongqing University;3.3.Durham University，Durham DH1 3LE
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| Abstract: |
| Based on the provincial digital inclusive finance index released by the China Digital Finance Research Center in 2019，this paper employs the total factor productivity index to assess the quality of economic growth，employs the instrumental variable method to investigate the impact of digital inclusive finance on the quality of economic growth，and employs the intermediary effect model to test the mechanism of digital inclusive finance affecting the quality of economic growth.The findings suggest that there is a “U” curve in the link between digital inclusive finance and the quality of China’s economic growth and that there is a transmission mechanism with technical innovation as the intermediary channel.Digital inclusive finance indirectly influences the quality of economic growth by easing the limits on company innovation funding and promoting innovative research and development activities.Furthermore，the influence of digital inclusive finance on the quality of China’s economic growth has regional heterogeneity.The influence of digital inclusive finance on the quality of economic growth is substantially greater in the backward parts of the central and western regions than in the prosperous districts of the east. |
| Key words: Digital Inclusive Finance；Economic Growth；Enterprises Technology Innovation；Total Factor Productivity |
