Zhengwei Yan;Weijian Lao;Lei Han;Sean Song;

• 1:School of Economics
• 2: Central University of Finance and Economics
• 3:Research Institute of Economics and Management
• 4: Southwestern University of Finance and Economics

Abstract：

Digital finance has had an important impact on family economic activities, but few scholars have studied the impact of digital finance on household charitable giving. Based on Digital Financial Inclusion Index of China and China Family Panel Studies in 2014, 2016 and 2018, this paper investigates the impact of digital finance development on household charitable giving. The result shows that digital finance development significantly promotes household charitable giving, and this conclusion remains robust after a series of robustness tests, including the use of instrumental variables. Mechanism analysis shows that digital finance development mainly promotes household charitable giving through three mechanisms: payment facilitation, information access and social interaction. Heterogeneity analysis shows that digital finance development has a more significant impact on households in rural areas, as well as those with lower human capital, material capital, and social capital. The conclusion of this paper provides a new perspective to explain the significant increase in charitable giving in recent years, and enrich the research literature on the influence of digital finance on family economic activities and social governance.

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Foundation: 国家社会科学基金重大招标项目“城乡融合与新发展格局战略联动的内在机理与实现路径研究”(项目编号:21&ZD085);国家社会科学基金重点项目“数字经济下就业极化的形成机理与治理对策研究”(项目编号:22AJL007);; 中央财经大学科教融合研究生学术新星孵化计划“方言与城市间贸易:基于文化和制度双重视角的解释”(项目编号:2024110)的资助

Authors: Zhengwei Yan;Weijian Lao;Lei Han;Sean Song;

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• (1)中国慈善联合会发布的《2019年度中国慈善捐助报告》显示,2019年全年,不含港澳台,中国接受款物捐赠共计1509.44亿元,这仅相当于当年中国GDP的0.15%。相比之下,美国施惠基金会发布的《2020美国捐赠报告》显示,2019年,美国个人、遗产捐赠、基金会和企业向慈善机构捐赠了约4496.4亿美元,占美国当年GDP的2.1%。
• (2)由于户主性别会被家庭固定效应吸收;户主的年龄会被家庭和时间双向固定效应吸收。因此,在进行估计时,本文并没有控制户主的年龄和性别。
• (3)这一结果的系数至少是张勋等(2019)系数的三倍,同时也和吴雨等(2020)的系数大致相同。
• (4)为了避免家庭层面的遗漏变量,同样纳入了户主年龄和性别等变量。
• (5)由于仅CFPS2018年有户主个人捐赠这一数据,本文使用截面数据进行检验。
• (1)具体请参见《构建初次分配、再分配、第三次分配协调配套的制度体系》,网址为:http://www.moe.gov.cn/s78/A01/s4561/jgfwzx_xxtd/202301/t20230104_1038137.html。