金融学院知识库

“无农不稳，无粮则乱”，粮食安全事关国运民生，保障粮食安全一直受到党和国家的高度重视。随着我国粮食安全战略的不断推进，粮食综合能力得以全面提升。但不容忽视的是粮食安全依然面临巨大挑战，各种内外部冲击加剧了我国粮食供应链的不稳定性，不利于粮食安全战略的实施。因此，保障粮食安全不仅要注重保障粮食数量和质量安全，还要提升粮食供应链韧性。基于此，党的二十大报告明确提出“要全方位夯实粮食安全根基，确保粮食、能源资源、重要产业链供应链安全”。数字金融作为数字技术与金融市场的有效衔接载体，可以纵深覆盖产业链上下游主体的金融需求，提升产业链韧性。因此，探究数字金融提升粮食供应链韧性的作用机制，能够为粮食供应链韧性的提升提供新思路。
鉴于此，本文基于相关政策指导，探究数字金融对粮食供应链韧性的影响机制。本文首先通过文献梳理分析我国数字金融和粮食供应链韧性的研究现状。其次，理论分析数字金融对粮食供应链韧性的影响机制。最后，基于2012-2022年我国31个省际面板数据，采用固定效应模型实证检验数字金融对粮食供应链韧性的影响机制，并进行异质性检验。研究结果表明：（1）数字金融不仅能够显著促进粮食供应链韧性提升，还可以增强粮食供应链的抵御能力、恢复能力和革新能力。生态环境和政府干预程度有助于提升粮食供应链韧性，城乡二元结构不利于粮食供应链韧性的提升。该结论在通过内生性和稳健性检验后依旧成立。（2）数字金融可以通过推动粮食动能转换提升粮食供应链韧性，且需求侧动能的中介效应最大，结构转换动能次之，供给侧动能的中介效应最小。（3）数字金融对不同粮食功能区粮食供应链韧性的促进作用存在差异性，具体表现为数字金融对粮食主销区粮食供应链韧性的影响最大，对粮食主产区次之，对粮食产销平衡区的促进作用最小。（4）数字金融的覆盖广度、使用深度和数字化程度三个维度对粮食供应链韧性的影响程度也存在差异，其中，使用深度对粮食供应链韧性的促进作用最大，覆盖广度次之，数字化程度的促进作用最小。
基于本文的研究结果，提出如下政策建议：（1）持续深化数字金融与粮食供应链的深度融合，充分发挥数字金融的多元驱动力；（2）加快供应链金融发展，培育农业新质生产力；（3）制定差异化数字金融发展策略，强化数字金融在不同粮食功能区的支持作用；（4）持续完善数字金融发展环境，助力粮食供应链可持续发展。

“Without agriculture, there is no stability; without food, there is chaos”; food security is a matter of national livelihood, and guaranteeing food security has always been highly valued by the Party and the State. As China's food security strategy continues to advance, the comprehensive capacity of food has been comprehensively enhanced. However, it should not be overlooked that food security is still facing huge challenges, and various internal and external shocks have aggravated the instability of China's food supply chain, which is not conducive to the implementation of the food security strategy. Therefore, guaranteeing food security should not only focus on guaranteeing the quantity and quality of food, but also on improving the resilience of the food supply chain. Based on this, the report of the 20th Party Congress clearly puts forward that “we should consolidate the foundation of food security in all aspects, and ensure the security of food, energy resources, and the supply chain of important industrial chains”. Digital finance, as an effective interface between digital technology and financial markets, can deeply cover the financial needs of the upstream and downstream subjects of the industry chain and enhance the resilience of the industry chain. Therefore, exploring the role mechanism of digital finance to enhance the resilience of the food supply chain can provide new ideas for the enhancement of the resilience of the food supply chain.

In view of this, this paper explores the impact mechanism of digital finance on the toughness of food supply chain based on relevant policy guidance. This paper firstly analyzes the research status of digital finance and food supply chain resilience in China through literature combing. Secondly, it theoretically analyzes the impact mechanism of digital finance on food supply chain resilience. Finally, based on 31 inter-provincial panel data in China from 2012 to 2022, the impact mechanism of digital finance on food supply chain resilience is empirically examined using a fixed effects model and tested for heterogeneity. The results of the study show that (1) digital finance can not only significantly promote the resilience of food supply chains, but also enhance the resilience, recovery and innovation of food supply chains. The ecological environment and the degree of government intervention contribute to the enhancement of food supply chain resilience, and the urban-rural dichotomy is not conducive to the enhancement of food supply chain resilience. The conclusion remains valid after passing endogeneity and robustness tests. (2) Digital finance can enhance food supply chain resilience by promoting food kinetic transformation, and the mediating effect of demand-side kinetic energy is the largest, followed by structural transformation kinetic energy, and the mediating effect of supply-side kinetic energy is the smallest. (3) Digital finance on different food functional areas of the food supply chain toughness of the promotion of the role of differentiation, specifically expressed in the digital finance on the food supply chain toughness of the main food marketing area of the largest impact on the food production and marketing balance of food production and marketing areas of the second largest impact on the next to promote the role of the smallest. (4) There are also differences in the extent of the impact of the three dimensions of digital finance, namely the breadth of coverage, depth of use and degree of digitization, on the resilience of the food supply chain, in which the depth of use has the greatest impact on the resilience of the food supply chain, followed by the breadth of coverage, and the degree of digitization has the smallest facilitating effect.

Based on the findings of this paper, the following policy recommendations are put forward: (1) continue to deepen the in-depth integration of digital finance and the food supply chain, and give full play to the multi-dimensional driving force of digital finance; (2) accelerate the development of supply chain finance, and cultivate the new quality productivity of agriculture; (3) formulate a differentiated digital finance development strategy, and strengthen the supportive role of digital finance in different food functional zones; and (4) continue to perfect the development of the digital financial environment to help the sustainable development of food supply chain.