数字普惠金融与消费风险平滑:中国家庭的微观证据  

Digital Financial Inclusion and Household Risk Smoothing: Chinese Household-level Evidence

作　　者：王勋[1,2] 王雪[1,2] WANG Xun;WANG Xue(Peking University)

机构地区：[1]北京大学国家发展研究院,100871 [2]北京大学数字金融研究中心

出　　处：《经济学（季刊）》2022年第5期1679-1698,共20页China Economic Quarterly

基　　金：国家社科基金重大项目(18ZDA091)的支持。

摘　　要：本文将中国家庭金融调查数据和数字普惠金融指数相匹配,考察了我国数字金融发展对居民家庭风险平滑能力的影响。研究发现,数字金融发展显著提升了居民家庭,尤其是低收入和农村家庭的风险平滑能力。进一步的机制分析表明:数字金融发展既提高了居民家庭利用社会关系网络进行风险分担的能力,也提高了居民家庭的自我保险能力;这两方面机制共同提升了居民家庭的风险平滑能力。然而,传统的银行信贷并未显著改善家庭的风险平滑能力。We examine how development of digital finance affects household risk smoothing in China. We provide convincing evidence that households that experience idiosyncratic negative shocks on income growth exhibit a disproportionally lower level of reduction in idiosyncratic consumption growth in regions with better developed digital finance, and this is not just attributable to the improved risk sharing through the reduction in transaction costs of remittance that digital finance provides, but also due to the liquidity and saving effects that digital financial products may generate. However, the development of traditional banking credit market does not appear to promote household risk smoothing.

关 键 词：数字普惠金融 家庭风险平滑 银行信贷市场 

分 类 号：F49[经济管理—产业经济] F832F126.1