Theoretical Mechanism and Provincial Evidence of Digital Inclusive Finance Promoting Financing for Small and Micro Enterprises
Digital inclusive finance is a new direction for the development of inclusive finance,creating new models and methods for financing small and micro enterprises.However,there is still insufficient research on the internal and implementation mechanisms of how digital inclusive finance promotes financing for small and micro enterprises.This article is based on the Stiglitz Weiss credit allocation model(S-W model)and introduces the two core advantages of digital inclusive finance:big data advantage,large sample of supply and demand advantage.By analyzing the impact of these two core advantages on the assumptions,behavior of supply and demand,and equilibrium results in the S-W model,the theoretical mechanism of digital inclusive finance improving credit allocation for small and micro enterprises is analyzed.At the same time,by studying the relationship between the availability of small and micro loans in various provinces and the development index and sub indexes of digital inclusive finance,we further verify the characteristics of the mechanism of big data and large sample of supply and demand in promoting financing of small and micro enter-prises through digital inclusive finance,as well as the heterogeneity differences among different types of provinces.Results show that both big data and large sample have significant positive impact on improving the financing of small and micro enterprises.Developed provinces have obvious advantages in large sample compared with underdeveloped provinces,but their advantages in big data applica-tion are not significant.In the future,we will further promote financing for small and micro enterprises.Developed provinces will mainly enhance big data application technology and spill it over to underdeveloped provinces.Underdeveloped provinces will mainly fill the gaps in large samples of supply and demand,thus forming a comprehensive,coordinated,shared,and sustainable development situation.
digital inclusive financebig datalarge samples of supply and demand
万方数据
维普
