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示了谢意。
作者签名：
日期：2022年 5月 18日
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作者签名：
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日期：2022年 5月 18日

摘要
摘要
中国自建国以来，一直大力扶持基础设施建设，便捷人民的日常生活。与此
同时，随着社会发展，信贷等现代资金融通手段成为人们的日常所需。现有研究
发现，人们普遍有信贷需求，但在需求型信贷约束与供给型信贷约束的共同作用
下，信贷配给成为金融市场长期的均衡状态，使得正规信贷渠道离人们的日常生
活仍有一定距离。本文通过研究基础设施建设、金融资源可得性与家庭信贷约束
的逻辑结构，在空间模型中，进一步揭示通过金融可得性这一中介变量，基础设
施建设对于家庭信贷约束的具体传导机制，以及，基础设施建设对于家庭信贷约
束的边际效应在空间上存在的差异。
首先，本文从家庭信贷约束以及金融资源可得性的理论视角出发，运用空间
模型，研究基础设施的建设对家庭信贷约束的影响。本文研究发现，金融资源可
得性在基础设施建设和家庭信贷约束之间，存在较为显著的中介效应，并验证在
空间模型中，基础设施建设通过促进金融资源可得性，放缓家庭信贷约束的积极
影响的存在。其次，本文的理论分析，将基础设施建设、金融资源可得性和家庭
信贷约束三者相结合，梳理三者的逻辑关系，将金融资源可得性作为中介效应变
量，研究基础设施建设对于家庭信贷约束的具体作用。最后，本文的实证研究，
从空间角度出发，研究我国中、东、西部地区的基础设施建设对于家庭信贷约束
的影响，发现基础设施建设对于家庭信贷约束的影响存在空间差异。并且，基础
设施建设对于中、西部家庭的家庭信贷约束的边际效应要大于对于东部地区的边
际效应。本文研究结果均已进行稳健性检验。
本文基于实证结果，提出如下政策建议：东、中、西部地区的基础设施建设
的完善和科技创新的发展共同推进，形成协同效应，让缓解家庭信贷约束能在高
质量发展中进一步得到提升。并且，在基础设施硬件设施完善的同时，金融相关
人才的基层投放、普惠金融的知识普及以及互联网金融风险普及等，也需在政府
的支持下积极推进。
关键词：基础设施建设；金融资源可得性；家庭信贷约束；
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Abstract
Abstract
Since the founding of the People's Republic of China, China has been vigorously
supporting infrastructure construction to facilitate people's daily life. At the same time,
with the development of society, modern financing means,such as credit, have become
people's daily needs. Existing studies have found that people generally have credit
demand, but under the joint action of demand-oriented credit constraints and
supply-oriented credit constraints, credit rationing has become a long-term
equilibrium state of the financial market, making the formal credit channel still a
certain distance from people's daily life. By studying the logical structure of
infrastructure construction, financial resource availability and household credit
constraints, this paper further reveals the specific transmission mechanism of
infrastructure construction to household credit constraints and the spatial differences
of the marginal effects of infrastructure construction to household credit constraints
through the intermediary variable of financial availability in the spatial model.
Firstly, from the theoretical perspective of family credit constraints and the
availability of financial resources, this paper uses spatial model to study the impact of
infrastructure construction on family credit constraints. This paper finds that the
availability of financial resources has a significant intermediary effect between
infrastructure construction and household credit constraints, and verifies that in the
spatial model, infrastructure construction slows down the positive impact of
household credit constraints by promoting the availability of financial resources.
Secondly, the theoretical analysis of this paper combines infrastructure construction,
the availability of financial resources and household credit constraints, combs the
logical relationship between the three, takes the availability of financial resources as
an intermediary effect variable, and studies the specific role of infrastructure
construction on household credit constraints. Finally, the empirical study of this paper
studies the impact of infrastructure construction on household credit constraints in
central, Eastern and Western China from a spatial perspective, and finds that there are
spatial differences in the impact of infrastructure construction on household credit
constraints. Moreover, the marginal effect of infrastructure construction on the family
credit constraints of middle and western families is greater than that of the eastern
region. The results of this study have been tested for robustness.
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