金融学院知识库

乡村产业振兴有助于提升广大乡村人民的收入，而数字普惠金融在其中发挥着关键作用。数字普惠金融通过提供更广泛、便捷和低成本的金融服务，不仅增强了农村地区的金融可及性，还促进了农业及其产业链的多样化发展，有效激活农村经济，支持小微企业的发展，同时也帮助农民提高了生产效率和增加收入。因此，数字普惠金融服务的整合成为推动乡村产业振兴的关键策略之一，对于推进乡村整体振兴具有重要意义。本文根据具体实践发展构建乡村产业振兴指标评价体系，旨在深入研究数字普惠金融对乡村产业振兴的影响路径，比较不同维度以及不同地区的数字普惠金融发展情况对乡村产业振兴的影响，并对不同乡村产业发展程度进行分组讨论，以期为金融服务乡村产业提供依据。

本文采用理论分析与实证分析相结合的方法。以长尾理论、金融排斥理论、产业结构理论和产业聚集理论等理论与已有研究文献为基础，从理论层面分析数字普惠金融对乡村产业振兴的影响，并提出研究假设。在实证研究中，采用2012-2021 年我国31个省（直辖市、自治区，除港澳台外）的面板数据，构建乡村产业振兴评价指标体系，并运用熵值法测算出相应的结果。在对相关变量进行共线性、相关性等分析的基础上，将乡村产业振兴作为被解释变量，数字普惠金融指数等作为主要解释变量，加入抗灾能力、医疗保健水平、生产资料价格水平和财政支农水平等控制变量，构建了基准回归模型。运用更换解释变量和利用滞后一期数据两种方法进行稳健性检验，并以农业技术创新为中介变量，对模型进行中介效应分析。最后从区域分类和产业发展程度两个角度对模型进行异质性分析。

研究结果表明：（1）我国各省份的乡村产业振兴指数呈现出逐年递增的态势。（2）数字普惠金融发展水平对乡村产业振兴具有显著的促进作用，其中，数字化程度的提高对乡村产业振兴的作用效果最明显，覆盖广度与使用深度的作用效果相当。（3）数字普惠金融通过农业科技创新进而影响乡村产业发展的中介效应显著，且中介效应占总效应的比例为26.91%。（4）数字普惠金融对乡村产业振兴的影响存在异质性：从地理区域异质性上看，数字普惠金融的发展对我国中部地区影响最大，西部地区次之，东部地区最小；从乡村产业发展水平异质性上看，数字普惠金融对不同发展水平的乡村产业均起到了正向促进的作用，尤其是在乡村产业发展水平较高的地区，其作用效果越明显。

基于实证结论提出以下建议：第一，加强乡村金融基础设施建设；第二，大力推广数字普惠金融服务；第三，重视技术创新与数字转型；第四，促进数字普惠金融与乡村产业的深度融合；第五，加强乡村金融监管。

Revitalizing rural industries helps increase the income of rural residents, with digital inclusive finance playing a crucial role in this process. By offering a broader range of more convenient and lower-cost financial services, digital inclusive finance not only enhances financial accessibility in rural areas but also fosters the diversification of agriculture and its associated industrial chains. This dynamic effectively stimulates the rural economy, supports the growth of small and micro enterprises, and aids farmers in improving their productivity and increasing their incomes. Therefore, the integration of digital inclusive financial services is crucial for promoting rural industrial revitalization, playing a significant role in advancing overall rural revitalization efforts.

This paper constructs an evaluation system for rural industrial revitalization indicators based on specific practical developments. It aims to explore the impact pathways of digital inclusive finance on rural industrial revitalization, compare its effects across different dimensions and regions, and discuss the development levels of various rural industries. Using panel data from 31 Chinese provinces (excluding Hong Kong, Macao, and Taiwan) from 2012 to 2021, the study employs the entropy method to derive its results and constructs a baseline regression model with relevant control variables. Robustness checks are conducted, and mediating effect analysis is performed with agricultural technology innovation as the mediating variable. Finally, heterogeneity analysis is conducted from the perspectives of regional classification and industrial development levels.

The research results indicate that: (1) The rural industrial revitalization index in various provinces of China shows an increasing trend year by year. (2) The development level of digital inclusive finance, disaster resilience, healthcare level, production material price level, and financial support for agriculture all significantly promote rural industrial revitalization; among the secondary dimensions of the digital inclusive finance index, the effect of digitalization is most pronounced, with coverage breadth and usage depth having comparable effects. (3) The mediating effect of digital inclusive finance on rural industrial development through agricultural technology innovation is significant, accounting for 26.91% of the total effect. (4) The impact of digital inclusive finance on rural industrial revitalization exhibits heterogeneity. The digital inclusive finance index has the greatest impact on rural industrial development in central China, followed by western China, with the least impact on eastern China; digital inclusive finance positively affects rural industrial development at all levels, especially in regions with higher levels of rural industrial development.

Based on the empirical conclusions, the following recommendations are proposed: First, strengthen the construction of rural financial infrastructure; Second, vigorously promote digital inclusive financial services; Third, emphasize technological innovation and digital transformation; Fourth, promote the deep integration of digital inclusive finance and rural industries; Fifth, enhance rural financial regulation.