居民财产性收入差距:能力差异还是制度阻碍?——来自中国家庭金融调查的证据  

What Account for Property Income Differentials:Ability Difference or Market Institutional Barriers?

作　　者：宁光杰[1] 

机构地区：[1]南开大学经济学系

出　　处：《经济研究》2014年第A01期102-115,共14页Economic Research Journal

基　　金：天津市社科重点课题(TJLJ13-001);国家自然科学基金项目(71473135)的研究成果

摘　　要：运用中国家庭金融调查(CHFS)2011年的数据,本文对居民财产和财产性收入的影响因素进行分析,探讨的是个人能力差异还是市场制度阻碍导致了财产性收入差距。研究发现高学历者在金融财产和财产性收入获得方面更有优势,党员身份等政治因素也会影响财产和财产性收入获得。克服选择偏差和分位数回归的结果表明,低收入居民由于缺乏必要的社会保障,风险抵御能力差,不能参与资本市场以获得较高的财产和财产性收入。另一方面,金融制度约束使其无法获得贷款,限制其购房和进行房产投资,因而很难增加财产和财产性收入。他们只能依靠偶然的土地征用或住房拆迁补偿来增加家庭财产。Using the China Household Finance Survey（ CHFS）2011 data, this paper explores factors influencing household asset and property income, trying to discuss whether ability difference or market institutional barrier leads to household property ineome differentials. We find that the more educated the household head is, the more financial asset and property income in his family obtained. Party membership is also associated with higher asset and property income. After controlling for the selection bias and conducting quantile regression, the results indicate that as lack of social insurance, low-income group dare not participate in stock market to reap the investment revenue. Moreover, institutional barriers restrict them from borrowing money from the bank to buy house, so that they cannot improve their house asset and property income. They only rely on the compensatory payment of land commandeer and house relocation to increase family asset, which are randomly occurred.

关 键 词：财产性收入 能力 制度阻碍 

分 类 号：F124.7[经济管理—世界经济]