摘要
本文基于2011~2019年中国29个省份的家庭金融调查数据,实证研究了数字普惠金融与家庭风险金融资产配置的影响及机制。研究表明:数字普惠金融与家庭风险金融资产配置显著正相关,即数字普惠金融指数越高地区的家庭风险金融市场参与可能性越高、参与程度越深、风险金融资产持有多样性越高,数字普惠金融促进家庭风险金融资产配置的影响机制主要是金融可得性的提升以及交易成本的下降。异质性研究表明,数字普惠金融缩小了城乡家庭之间风险金融资产配置的差异,但地区差异依旧明显,这与东中西部地区数字金融覆盖面和渗透度存在差异有关。鉴于此,应持续推动数字普惠金融在全国各区域间的协调发展,加强金融市场建设和普及居民金融知识,提倡风险金融资产配置多样化,避免家庭投资出现极端化现象。
Based on 29 provinces Household Finance Survey(CHFS) in China from 2011 to 2019,this paper empirically studies the impact and mechanism of digital inclusive finance on household risk asset allocation.According to the results,it finds that digital inclusive finance is positively correlated with household risk asset allocation.Specifically,the higher digital inclusive finance index,the higher possibility of household financial market participation,the deeper degree of participation,the higher diversity of risk asset holdings.Further research shows that the digital inclusive finance has narrowed the difference in risk asset allocation between urban and rural households,but the differences among areas are still obvious,which is closely related to the different levels of digital finance coverage and penetration among eastern,central,and western areas.Therefore,we should continue to promote the coordinated development of digital inclusive finance in all regions of China,strengthen financial market construction and financial literacy education,and advocate diversification of risky asset allocation to avoid extreme condition in household investment.
作者
张红伟
何冠霖
ZHANG Hong-wei;HE Guan-lin(School of Economics,Sichuan University,Chengdu 610065,China)
出处
《经济体制改革》
CSSCI
北大核心
2022年第2期136-143,共8页
Reform of Economic System
关键词
数字普惠金融
金融可得性
风险金融资产配置
digital inclusive finance
financial availability
risk asset allocation
