房贷、非房贷的金融负债与居民消费关系的实证研究  

An Empirical Study on the Relationship Between Financial Liabilities of Housing Loans and Non-housing Loans and Residents'Consumption

作　　者：张锐[1] ZHANG Rui(School of Finance,Anhui University of Finance and Economice,Bengbu 233506,China)

机构地区：[1]安徽财经大学金融学院,安徽蚌埠233402

出　　处：《宿州学院学报》2021年第2期31-35,84,共6页Journal of Suzhou University

摘　　要：为了探究负债与居民消费之间的关系,从生命周期理论出发,运用2014年和2016年中国家庭追踪调查数据,将负债划分为房贷和非房贷的金融负债进行实证分析。发现房贷和非房贷的金融负债均对家庭消费具有显著的促进作用,且非房贷的金融负债的作用力度更大;这反映出当前我国居民的负债水平处于安全水平,能够有效地促进消费水平的提高。针对不同年龄阶段家庭的异质性分析结果表明,对任何年龄阶段的家庭而言,非房贷的金融负债对消费均有促进作用,而房贷只对户主年龄在40岁以上的家庭具有促进作用;从不同地区的结果来看房贷和非房贷的金融负债对于消费均具有显著的促进作用,其中房贷对西部地区消费的促进作用最明显,非房贷的金融负债对中部地区消费的提高效果最显著。In order to explore the relationship between liability and household consumption,based on life-cycle theory,the data of 2014 and 2016 China Family Panel Studies were used to divide debts into financial debts for housing loans and non-housing loans for empirical analysis.It is found that financial liabilities of housing loans and nonhousing loans have a significant promotion effect on household consumption,and the financial liabilities of non-housing loans have a stronger effect.This reflects that the current level of liability of Chinese residents is safe and can effectively promote consumption of improvement.Heterogeneity analysis results for households at different ages show that for any age family,financial liabilities of non-housing loans can promote consumption,while housing loans can only promote households over 40 years old.From the results of different regions,it can be seen that financial liabilities of housing loans and non-housing loans have a significant promotion effect on consumption.Among them,housing loans have the most significant promotion effect on consumption in the central regions.

关 键 词：家庭消费 金融负债 房贷 

分 类 号：F832.51[经济管理—金融学]