摘要
随着农村地区非农就业比例呈增长趋势及农户收入增加,农村家庭的投资理念逐渐趋向多元化,由此产生的投资理财需求开始得到人们的关注。本文运用中国家庭金融调查(CHFS)2017年数据研究了非农就业对农村家庭金融市场参与的影响及影响机制。结果显示,户主从事非农行业可有效促进农村家庭参与金融市场,并显著提升投资性金融资产的配置水平;非农就业可以通过缓解农村家庭需求端金融排斥程度对其资产配置产生影响,并且农户的社会信任程度越高,非农就业的促进作用越强。异质性分析表明,从事非农行业对中年群体、财富收入较高群体的资产配置行为影响更加显著;户主从事第三产业或外出务工对家庭持有风险金融资产的促进作用更强,而对于户主为兼业或创业人员的家庭而言,该影响则不显著。本文基于实证结果和农村地区劳动力市场结构变化的现状,结合当前增强金融普惠性和提高直接融资比重的政策目标,提出了改善家庭资产配置的相关建议,鼓励与促进农户进一步参与金融市场,享受资本市场发展带来的红利。
With the increase of the proportion of non-agricultural employment in rural areas and farmers’income,the investment philosophy of rural households tends to be diversified gradually.The demand for investment and financial management has started to attract people’s attention.This paper uses the China Household Financial Survey(CHFS)data in 2017 to study the impact of non-agricultural employment on rural household financial market participation.We find that non-agricultural employment has a significant positive impact on financial market participation and significantly improve the level of allocation of investment financial assets.Non-agricultural employment can affect the asset allocation by alleviating the degree of financial exclusion on the demand side of rural households.Higher trust leads to better non-argricultural employment.Heterogeneity analysis shows that non-agricultural employment has a significant impact on middle-aged and wealthy people’s investment behavior.The positive effects of working in the tertiary industries and migrant workers are significant.However,the effect is not significant for householders who are part-time workers or entrepreneurs.According to the policy of enhancing financial inclusion and increasing the share of direct financing,this paper puts forward some suggestions to improve household assets allocation based on the empirical results and the current labor market situation in rural areas.Rural households should be encouraged to enjoy the dividends brought by the development of the capital market.
作者
葛永波
陈虹宇
赵国庆
GE Yongbo;CHEN Hongyu;ZHAO Guoqing(School of Insurance, Shandong University of Finance and Economics, Jinan 250000, China;School of Finance, Shandong University of Finance and Economics, Jinan 250000, China)
出处
《当代经济科学》
CSSCI
北大核心
2021年第3期16-31,共16页
Modern Economic Science
基金
国家社会科学基金重点项目“劳动力转移视角的农村家庭金融资产配置研究”(18AJY021)
山东省自然科学基金项目“金融排斥、社会资本与农村家庭金融资产配置——基于山东省的调查研究”(ZR2018MG011)。
关键词
金融资产配置
农村家庭
家庭金融
非农就业
金融排斥
社会信任
financial asset allocation
rural household
household finance
non-agricultural employment
financial exclusion
social trust
