【摘要】 基于北京大学数字普惠金融指数和中国家庭追踪调查数据，构建双向固定效应模型，分析数字金融发展对家庭教育支出的影响及传导机制。研究发现，数字金融发展增加了家庭教育支出。机制分析表明，家庭教育支出的增长得益于数字金融发展对家庭流动性约束及预防性储蓄动机的缓解。异质性分析表明，数字金融发展更有利于家庭物质或文化资本水平较低的弱势群体，且在金融发展低水平地区作用更明显，这体现了数字金融发展的普惠性。更多还原

【Abstract】 Based on the Peking University Digital Financial Inclusion Index and CFPS data, this article constructed a two-way fixed effect model to analyze the influence and its transmission mechanism of digital finance on family education expenditure. The results showed that, digital financial development has increased family education expenditure. Mechanism analysis indicated that, the increase of family education expenditure benefited from the relief effect of digital financial development on family liquidity constraints and precautionary savings motivation. Heterogeneity analysis found that, digital financial development was more beneficial to the disadvantaged groups with a lower level of family material capital or cultural capital, and the regions with a lower level of financial development, which reflected the inclusiveness of digital financial development.更多还原