数字金融对地方政府债务的影响研究——基于省级面板数据的实证检验
Research on the Impact of Digital Finance on Local Government Debt:Empirical Tests Based on China Provincial Panel Data
王春雷 1林根仕 2黄素心2
作者信息
- 1. 广西大学 经济学院,广西 南宁 530004
- 2. 广西民族大学 经济学院,广西 南宁 530006
- 折叠
摘要
本文基于 2015-2021 年中国省级面板数据实证研究数字金融对地方政府债务的影响,发现两者呈现出显著为负的非线性关系,数字金融的发展对地方政府优化自身债务、降低系统性金融风险具有积极作用.采用系统聚类将 31 个省(区、市)分为发展中、次发达、发达地区三大组别,发现数字金融对地方政府债务的抑制作用在发展中地区表现得最为显著.市场化水平在数字金融抑制地方政府债务过程中具有正向调节作用,特别是当市场化水平跨越一定的门槛值以后,数字金融对地方政府债务的影响显著增强.在此基础上,提出了数字金融背景下分类施策缓解各级地方政府债务问题的相关建议.
Abstract
This article empirically studies the impact of digital finance on local government debt based on provincial panel data from 2015 to 2021 in China,finds that there is a significant negative nonlinear relationship between the two.The development of digital finance has a positive effect on local governments'optimization of their own debt and reduction of systemic financial risks.By using systematic clustering to divide 31 provinces(autonomous regions and municipalities)into three major groups:developing,underdeveloped,and developed regions,it is found that the restraining effect of digital finance on local government debt is most significant in developing regions.The level of marketization has a positive regulatory effect in the process of local government debt suppression by digital finance,especially when the marketization level crosses a certain threshold value,the impact of digital finance on local government debt is significantly enhanced.On this basis,relevant suggestions are put forward to alleviate the local government debt problems at all levels in the context of digital finance through categorized measures.
关键词
数字金融/地方政府债务/市场化/门槛效应Key words
digital finance/local government debt/marketization/threshold effect引用本文复制引用
基金项目
广西哲学社会科学规划课题(22FJY025)
出版年
2024
NETL
NSTL
万方数据