“推动力”还是“摩擦力”?——金融素养对农户农业生产投资的影响  

“Driving Force”or“Friction”?The Influence of Financial Literacy on Farmers′Investment in Agricultural Production

作　　者：韩科飞[1] 蔡栋梁[1] 陈韶晖 HAN Ke-fei;CAI Dong-liang;CHEN Shao-hui(School of Finance,Southwestern University of Finance and Economics,Chengdu 611130,China;International College,Renmin University of China,Suzhou 215123,China)

机构地区：[1]西南财经大学金融学院,成都611130 [2]中国人民大学国际学院,江苏苏州215123

出　　处：《商业研究》2021年第3期73-82,共10页Commercial Research

摘　　要：农户金融素养是否以及如何影响农业生产投资,对于“金融支农”具有重要意义。本文基于2018年中国金融教育发展基金会137村金融素养调查数据,结合理论模型和一元多重中介实证模型探究了农户金融素养对农户农业生产投资的影响方向和机制。研究发现:农户金融素养可促进农户农业生产投资,同时金融素养可提升农户的经营能力从而改善其农业经营效率;农户金融素养可通过融资条件、农户风险容忍以及农户家庭流动性持有三个中介渠道作用农业生产投资,其中,农户风险容忍以及农户家庭流动性持有中介作用为正向,融资条件中介作用为负向;农户融资表现出典型的“融资次序”特征,融资条件改善并不能有效促进农户农业生产投资。以上结论表明,提升农户金融素养对实现农业现代化和“乡村振兴”具有重要意义。Whether and how farmers′financial literacy affects agricultural production investment is of great significance for“financial support for agriculture”.Based on the financial literacy survey data of 137 villages of China Financial Education Development Foundation in 2018,combined with theoretical model and unitary multiple intermediary empirical model,this paper explores the direction and mechanism of the impact of farmers′financial literacy on farmers′investment in agricultural production.The results show that:farmers′financial literacy can promote their investment in agricultural production,and financial literacy can improve farmers′operation ability and improve their agricultural operation efficiency;farmers′financial literacy can act on agricultural production investment through three intermediary channels:financing conditions,farmers′risk tolerance and farmers′family liquidity holding,among them,the intermediary role of farmers′risk tolerance and farmers′family liquidity holding is positive,while the intermediary role of financing conditions is negative;farmers′financing shows typical characteristics of“financing order”,and the improvement of financing conditions cannot effectively promote the investment in agricultural production.The above conclusions show that it is of great significance to improve farmers′financial literacy to realize agricultural modernization and“Rural Revitalization”.

关 键 词：农户金融素养 中介效应 农户农业生产投资 农业生产效率 

分 类 号：F32[经济管理—产业经济]