电商经济背景下网路支付对货币流通速度的影响研究

Study on the Impact of Online Payment on the Velocity of Money Circulation under the Background of E-Commerce Economy

摘要: 随着电商经济的逐渐发展，网络支付的应用范围也越来越广泛。本文构建“支付效率–货币结构–金融创新”三重机制，基于2010~2024年宏观与支付系统数据实证发现，网络支付已成为货币流通速度加快的核心动能，并据此提出将支付数据纳入双监测框架、强化备付金监管与畅通M2→M1转化渠道的政策建议，研究结论为完善货币政策传导机制、优化支付体系监管提供理论与数据支撑与理论参考价值。

Abstract: With the gradual development of the e-commerce economy, the application of online payment has become increasingly widespread. This paper constructs a triple mechanism of “payment efficiency-monetary structure-financial innovation”. Based on the empirical analysis of macroeconomic and payment system data from 2010 to 2024, it is found that online payment has become the core driver for the acceleration of monetary velocity. Accordingly, policy suggestions are put forward, including incorporating payment data into a dual monitoring framework, strengthening the supervision of reserve funds, and smoothing the conversion channel from M2 to M1. The research conclusions provide theoretical and data support as well as theoretical reference value for improving the monetary policy transmission mechanism and optimizing the supervision of the payment system.