《保险研究》20240204-《数字经济对保险发展的影响研究——基于中介效能视角》（张宁、柳开）

［摘   要］数字经济为保险业带来了新的发展契机，但关于数字经济对保险影响的研究还较为稀缺。本文探讨了数字经济促进保险发展的效应及背后的机制。理论上，本文首次提出数字经济通过提高保险中介效能等多种机制推动保险发展。实证上，本文测度了2011~2020年280个地级及以上城市的数字经济水平及保险发展水平，并首次引入保险中介指标，在此基础上展开计量分析。结果表明：第一，数字经济会显著促进当地保险发展，经过替换被解释变量、多种工具变量、构建外生冲击事件多期DID模型等多种方式进行稳健性检验后，结论依旧稳健。第二，激发保险中介效能，促进人民创业、就业，提高收入是数字经济赋能保险发展的作用机制。第三，数字经济对保险发展存在负向空间溢出效应。本文的研究推动了对保险发展动因及数字经济赋能保险发展的效应、机制的理解。

［关键词］数字经济；保险中介；宽带中国

［基金项目］国家社科基金重大项目“推进脱贫地区乡村振兴的金融支持研究“（21&ZD115）。

［作者简介］张宁，湖南大学金融与统计学院副院长、教授、博士生导师；柳开（通讯作者），湖南大学金融与统计学院博士研究生。

The Impact of Digital Economy on the Development of Insurance—From the Perspective of the Insurance Intermediary′s Effectiveness

ZHANG Ning,LIU Kai

Abstract：The digital economy has brought new opportunities for the insurance industry,but research on the impact of the digital economy on insurance is still relatively scarce.This paper explores the effects of the digital economy on promoting insurance development and the underlying mechanisms.In theory,this paper proposes for the first time that the digital economy promotes insurance development through various mechanisms,such as enhancing the effectiveness of insurance intermediaries.Empirically,this paper measures the levels of the digital economy and insurance development in 280 cities at the prefecture level and above from 2011 to 2020.It also introduces insurance intermediary indicators for the first time and conducts econometric analyses based on this data.Empirical results indicate the following findings.First,the digital economy significantly promotes local insurance development.This conclusion remains robust after various tests,including the replacement of the dependent variable,the use of multiple instrumental variables,and the construction of a multi-period DID model with exogenous shocks.Second,stimulating the vitality of insurance intermediaries,promoting entrepreneurship and employment,and increasing income are the mechanisms through which the digital economy empowers insurance development.Third,the digital economy has a negative spatial spillover effect on insurance development.This study contributes to a better understanding of the driving factors behind insurance development and the effects and mechanisms of the digital economy on empowering insurance development.

Key words：digital economy;insurance intermediary ;Broadband China