金融素养与家庭负债——基于中国居民家庭微观调查数据的实证分析
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| Title | Financial Literacy and Household Debt——Empirical Analysis Based on Chinese Household Micro Survey
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| 作者 | 吴卫星 吴锟 王琎 |
| Author | Wu Weixing, Wu Kun and Wang Jin |
| 作者单位 | 对外经济贸易大学金融学院 |
| Organization | Research Center for Applied Finance, University of International Business and Economics |
| 作者Email | wilsonwxwu@126.com；flag95@163.com；jcrystal25@126.com |
| 中文关键词 | 家庭负债 金融素养 过度负债 |
| Key Words | Household Debt; Financial Literacy; Overindebtedness |
| 内容提要 | 居民家庭的合理负债不仅可以提高家庭的金融福利，还有助于经济的健康发展。本文运用清华大学中国金融研究中心2010年和2011年 “中国消费金融现状及投资者教育调查”数据，考察了金融素养与家庭负债之间的关系。研究发现：绝大多数居民家庭对贷款产品不了解，金融素养低的现象非常普遍；教育程度与金融素养存在非常强的正相关关系；男性的金融素养高于女性的金融素养。最重要的是，实证研究发现：金融素养高的居民家庭更可能持有负债，但金融素养的提高有助于减少过度负债。本文的发现有重要的政策含义：（1）金融素养的差距很大程度上与户主的教育程度、年龄和性别有关；（2）任何涉及到居民家庭的金融政策都应该考虑到居民家庭的金融素养。 |
| Abstract | The savvier borrowing behavior may improve the household financial well-being and contributes to the healthy development of the economy. Using the data from the year 2010 and 2011 “Chinese Survey of Consumer Finance and the Investor Education”, this study investigates the association between financial literacy and household debt. This paper finds that financial illiteracy is widespread especially in special groups: financial literacy increases strongly with education; women display much lower financial literacy than men. Most importantly, this paper finds that those with high financial literacy are much more likely to hold debt, but the relationship between the household overindebtedness and financial literacy is negative. Our findings provide some policy implications: (1) financial literacy differs depending on education, gender and age; (2) any privatization programs should take account into that most individuals are financial illiteracy. |
| 文章编号 | WP1094 |
| 登载时间 | 2016-08-10 |
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