城镇化视角下数字金融对消费升级的影响研究
Research on the Impact of Digital Finance on Consumption Upgrading from the Perspective of Urbanization

高端消费市场随着数字普惠金融的发展逐渐兴起，带动着城镇居民消费结构的升级。本文利用2013年~2022年中国省际面板数据，运用面板门槛效应模型、中介效应模型实证检验城镇化发展进程下的数字普惠金融对城镇居民消费结构升级的影响及作用机制。研究得出以下主要结论：从整体上看，数字普惠金融对消费结构升级的促进作用在城镇化水平的限制下存在双重门槛效应；从作用机制上看，数字普惠金融主要通过促进增长居民的非工资性收入来对居民的消费结构升级产生促进作用。为此，在努力夯实数字普惠金融基础设施建设的基础上，要不断加大对中西部地区城镇化公共服务建设的投入，努力提升城镇居民的非工资性收入，从而顺利促进城镇居民的消费结构升级。
The high-end consumer market is gradually emerging with the development of digital inclusive finance, driving the upgrading of the consumption structure of urban residents. This article uses inter-provincial panel data in China from 2013 to 2022, and uses panel threshold effect model and intermediary effect model to empirically test the impact and mechanism of digital inclusive finance on the upgrading of urban residents’ consumption structure under the process of urbanization development. The main conclusions of the study are as follows: overall, there is a double threshold effect of digital inclusive finance on the promotion of consumption structure upgrading under the limitation of urbanization level; from the perspective of mechanism, digital inclusive finance mainly promotes the upgrading of consumer structure by promoting the growth of non-wage income of residents. Therefore, on the basis of striving to consolidate the construction of digital inclusive financial infrastructure, we should continuously increase investment in the construction of urbanization public services in the central and western regions, strive to improve the non-wage income of urban residents, and smoothly promote the upgrading of the consumption structure of urban residents.