数字金融对银行信贷的影响——来自我国1326家商业银行地级市分行数据的经验证据被引量：18

Impact of Digital Finance on Commercial Bank Credit——The Empirical Evidence from 1,326 Commercial Banks in Prefecture-level Cities

原文传递

导出

摘要由大型互联网企业驱动的数字金融新业态,因门槛较低而让商业银行排除在外的众多长尾客户享受到基本的金融服务,在近年来获得快速的发展。一个基本而无可回避的问题是:数字金融的发展会促进还是抑制商业银行信贷?本文将北京大学数字普惠金融指数与我国1326家商业银行地级市分行的贷款数据匹配后进行实证研究发现,数字金融对商业银行信贷同时存在显著的促进和抑制作用。具体地,数字金融广度发展会促进商业银行信贷,数字普惠金融覆盖广度指数每提高一个标准差,银行贷款增加18.64%;数字金融深度发展会抑制商业银行信贷,数字普惠金融使用深度指数每提高一个标准差,银行贷款减少11.94%。本文分别将上述两种情形称为数字金融对商业银行信贷的“溢出效应”和“挤出效应”。在考虑内生性和一系列稳健性检验后,两种效应依然同时存在。本文还从区域差异性和银行异质性检验了数字金融对商业银行信贷的差异性影响,并对数字金融的溢出效应和挤出效应的内在机理进行了验证。本文的研究对推动数字金融发展、商业银行转型和金融业改革具有一定的参考价值。 The various emerging investment and financing services based on digital technology led by BigTech have achieved rapid growth in recent years because of the low access threshold, which enables numerous long tail customers excluded by commercial banks to obtain basic financial services. The question that whether the development of digital finance will promote or restrain commercial bank lending arouses our interest. We match the Peking University Digital Financial Inclusion Index with the loan data of 1,326 prefecture-level commercial bank branches to carry out an empirical study. The results show that digital finance can both significantly promote and restrain commercial bank lending. Specifically, the coverage breadth of digital finance will promote commercial bank lending. With one standard deviation increase in the Coverage Breadth Index of Digital Financial Inclusion, the bank loan increases by 18.64%. Meanwhile, the usage depth of digital finance will restrain commercial bank lending. One standard deviation increase in the Usage Depth Index of Digital Financial Inclusion will reduce bank loan by 11.94%. We refer to the above two cases as spillover effect and extrusion effect of digital finance on commercial bank lending respectively. After considering endogeneity and robustness tests, both effects still exist simultaneously. The paper further examines the heterogeneous impacts of digital finance on commercial bank lending from the perspectives of regional differences and commercial bank heterogeneity, and verifies the internal mechanism of spillover effect and extrusion effect of digital finance. The findings of this paper are obviously of reference value to the development of digital finance, the transformation of commercial banks and the reform of financial industry.

作者陈永良凌爱凡 Chen Yongliang;Ling Aifan(School of Finance,Jiangxi University of Finance and Economics,Nanchang 330013;School of Economics and Finance,Shanghai International Studies University,Shanghai 201620)

机构地区江西财经大学金融学院上海外国语大学国际金融贸易学院

出处《管理评论》 CSSCI 北大核心 2023年第2期52-69,共18页 Management Review

基金国家自然科学基金项目(72071098,71771107) 国家社会科学基金重大项目(21ZDA045)。

关键词数字金融数字普惠金融商业银行信贷溢出效应挤出效应 digital finance digital inclusive finance bank lending spillover effect extrusion effect

分类号 F49 [经济管理—产业经济] F832.4 [经济管理—金融学]

作者简介陈永良,江西财经大学金融学院博士研究生;通讯作者:凌爱凡,上海外国语大学国际金融贸易学院教授,博士生导师,博士。