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Mitigating effect of digital payments on the micro-enterprises’ financing constraints

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  • Deng, Li
  • Qian, Pengcheng

Abstract

Breaking the financing constraint is the focus of stimulating the innovation of micro-enterprises. Based on the 2020–2022 Chinese micro-enterprises’ survey data, the effect of data payment on the financing constraints of micro-enterprises is empirically examined. It is found that digital payment can significantly alleviate the financing constraints of micro-enterprises. The results of the heterogeneity test show that the mitigating effect of digital payments on the financing constraints of micro-enterprises in the western region is significantly stronger than that in the east-central region, and the mitigating effect on the financing constraints of micro-enterprises in the growth period is significantly stronger than that of micro-enterprises in the non-growth period. In addition, the level of financial marketization helps to strengthen the mitigating effect of digital payment on the financing constraints of micro-enterprises.

Suggested Citation

  • Deng, Li & Qian, Pengcheng, 2024. "Mitigating effect of digital payments on the micro-enterprises’ financing constraints," Finance Research Letters, Elsevier, vol. 62(PB).
    • Handle: RePEc:eee:finlet:v:62:y:2024:i:pb:s1544612324002393
    DOI: 10.1016/j.frl.2024.105209
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