劳动力转移如何影响农户风险金融资产配置?——基于金融排斥的视角  

How Does Labor Transfer Affect Rural Household Risk Financial Asset Allocation?An Analysis from the Perspective of Financial Exclusion

作　　者：葛永波 陈虹宇 GE Yongbo;CHEN Hongyu

机构地区：[1]山东财经大学保险学院

出　　处：《中国农村观察》2022年第3期128-146,共19页China Rural Survey

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”(编号: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”(编号:ZR2018MG011)的资助。

摘　　要：伴随着农村劳动力产业转移和跨区域转移就业的不断深化,农户的收入水平和收入结构正发生着重大变化。与此同时,越来越多的农村居民开始关注金融市场,寻求财富积累的新途径。本文运用2019年山东省1140户农户调查数据,基于金融排斥视角分析劳动力转移对农户风险金融资产配置行为的影响,并从供给端和需求端两个角度探究金融排斥在该过程中的影响机制,以及金融排斥在供需两端作用程度的差异。研究结果表明,劳动力转移提高了农户风险金融市场的参与广度(风险金融市场参与概率)与深度(风险金融资产持有比例);劳动力转移主要通过缓解需求端金融排斥对农户风险金融资产配置行为产生影响,供给端金融排斥的中介效应并不显著。进一步分析表明,转移就业时长能够强化劳动力转移对农户风险金融资产配置行为的正向影响;户主转移就业距离越远,农户参与风险金融市场的概率和持有风险金融资产的比例越高。With the industrial transfer and cross-regional transfer of rural labor force,rural households’ income levels and income structure are undergoing significant changes.At the same time,an increasing number of rural residents are focusing on financial markets and seeking new ways to accumulate wealth.This article uses the survey data from 1140 rural households in Shandong Province in 2019 to examine the impact of labor transfer on rural households’ financial asset allocation from the perspective of financial exclusion and explores the mechanism of financial exclusion in the process from both supply-side and demand-side,as well as the differences in the degree of financial exclusion at both ends of supply and demand.The results show that labor transfer promotes household participation in risky financial markets and significantly increases risk financial asset ratio.Labor transfer mainly affects their asset allocation by easing demand-side financial exclusion,and the mediation effect of supply-side financial exclusion is not significant.Further analysis shows that the duration of transfer employment reinforces the positive effect of labor transfer on their risk financial asset allocation.The farther household-head works away from home,the higher the probability of the household participating in risky financial markets,and the higher the proportion of the household holding ris financial assets.

关 键 词：劳动力转移 金融市场 风险金融资产 金融排斥 

分 类 号：F832.5[经济管理—金融学]