金融素养对家庭负债行为的影响——基于家庭贷款异质性的分析
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摘要
借贷对于平滑家庭支出有重要作用,但也可能造成不成熟借款者的债务累积。鉴于家庭金融素养异质性较大,且不同借贷类型的利率差异会对家庭债务成本产生重要影响,本文研究了金融素养对家庭负债行为的影响,探讨不同金融素养家庭的贷款渠道、贷款利率以及贷款期限结构。研究发现,金融素养的提高对家庭贷款获取方面有促进作用,但对家庭组合贷款中短期贷款占比没有显著影响;金融素养的提高有效降低了家庭综合贷款利率;随着金融素养的提高,家庭购房贷款中银行贷款占比明显增加,从正规渠道(银行)获得贷款在很大程度上降低了购房贷款的利率。
引文
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[14] 吴卫星,邵旭方,陶利斌.家庭财富不平等会自我放大吗?——基于家庭财务杠杆的分析[J].管理世界,2016,(9):44-54.
[15] 刘绘,沈庆劼.我国P2P网络借贷的风险与监管研究[J].财经问题研究,2015,(1):52-59.
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[17] 陈斌开,李涛.中国城镇居民家庭资产—负债现状与成因研究[J].经济研究,2011,(S1):55-66+79.
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[19] Bianchi,M.Financial Literacy and Portfolio Dynamics[J].The Journal of Finance,2018,73(2):831-859.
(1)具体结果未在正文列出,留存备索。
[2] 祝伟,夏瑜擎.中国居民家庭消费性负债行为研究[J].财经研究,2018,(10):67-81.
[3] 吴卫星,吴锟,王琎.金融素养与家庭负债——基于中国居民家庭微观调查数据的分析[J].经济研究,2018,(1):97-109.
[4] 王江,廖理,张金宝.消费金融研究综述[J].经济研究,2010,(S1):5-29.
[5] Van Rooij,M.,Lusardi,A.,Alessie,R.Financial Literacy and Stock Market Participation[J].Journal of Financial Economics,2011,101(2):449-472.
[6] Disney,R.,Gathergood,J.Financial Literacy and Consumer Credit Portfolios[J].Journal of Banking & Finance,2013,37(7):2246-2254.
[7] Klapper,L.,Lusardi,A.,Pano,G.A.Financial Literacy and Its Consequences:Evidence From Russia During the Financial Crisis[J].Journal of Banking & Finance,2013,37(10):3904-3923.
[8] Lusardi,A.,Tufano,P.Debt Literacy,Financial Experiences,and Overindebtedness[J].Journal of Pension Economics & Finance,2015,14(4):332-368.
[9] Hung,A.,Parker,A.M.,Yoong,J.Defining and Measuring Financial Literacy[J].Social Science Electronic Publishing,2009,708(708):213-236.
[10] Schicks,J.Over-Indebtedness in Microfinance:An Empirical Analysis of Related Factors on the Borrower Level[J].World Development,2014,54(C):301-324.
[11] 廖理,张金宝.城市家庭的经济条件、理财意识和投资借贷行为——来自全国24个城市的消费金融调查[J].经济研究,2011,(S1):17-29.
[12] Van Rooij,M.,Lusardi,A.,Alessie,R.Financial Literacy and Retirement Planning in the Netherlands[J].Journal of Economic Psychology,2011,32(4):593-608.
[13] 吴卫星,吴锟,张旭阳.金融素养与家庭资产组合有效性[J].国际金融研究,2018,(5):66-75.
[14] 吴卫星,邵旭方,陶利斌.家庭财富不平等会自我放大吗?——基于家庭财务杠杆的分析[J].管理世界,2016,(9):44-54.
[15] 刘绘,沈庆劼.我国P2P网络借贷的风险与监管研究[J].财经问题研究,2015,(1):52-59.
[16] 宋全云,吴雨,尹志超.金融知识视角下的家庭信贷行为研究[J].金融研究,2017,(6):95-110.
[17] 陈斌开,李涛.中国城镇居民家庭资产—负债现状与成因研究[J].经济研究,2011,(S1):55-66+79.
[18] Stock,J.H.,Yogo,M.Testing for Weak Instruments in Linear IV Regression[A].Andrews,D.W.,Stock,J.H.Identification and Inference for Econometric Models:Essay in Honor of Thomas Rothenberg[C].Cambridge:Cambridge University Press,2005.80-118.
[19] Bianchi,M.Financial Literacy and Portfolio Dynamics[J].The Journal of Finance,2018,73(2):831-859.
(1)具体结果未在正文列出,留存备索。