Heterogeneous Results: Long Tail Group.

Currently, the development of digital finance in China’s rural areas remains in its early stages. The proportion of rural households participating in digital finance and the types of participation are relatively low. This hinders the realization of digital finance’s inclusive effects. This paper examines the influence of migrant work experience on participation in digital financial of rural households using data from the China Household Finance Survey (CHFS). The findings suggest that migrant work experience significantly increases the probability of rural households’ digital financial participation and increases the breadth of participation. Heterogeneity analysis finds that migrant work experience promotes digital financial participation more for rural households with migrant formal work experience, migrant entrepreneurial experience, completion of compulsory education, and long-tail groups. Mechanism analysis finds that migrant work experience can influence rural households’ digital financial participation by improving their financial literacy and broadening their social networks.

当前，中国农村地区数字金融发展仍处于初级阶段，农村家庭参与数字金融的比例与参与类型均相对偏低，这制约了数字金融普惠效能的实现。本文基于中国家庭金融调查（China Household Finance Survey, CHFS）数据，考察了外出务工经历对农村家庭数字金融参与行为的影响。研究结果表明，外出务工经历可显著提升农村家庭参与数字金融的概率，并拓宽其参与广度。异质性分析显示，对于拥有正规外出务工经历、外出创业经历、完成义务教育的农村家庭以及长尾群体而言，外出务工经历对其数字金融参与的促进作用更为显著。机制分析表明，外出务工经历可通过提升农村家庭的金融素养、拓展其社会网络两条路径，对其数字金融参与行为产生影响。