金融素养与家庭幸福——基于中国家庭金融调查(CHFS)数据的分析  

Financial Literacy and Household Happiness-Analysis Based on Data from China Household Finance Survey

作　　者：周莉[1] 高扬[1] 岳鹏鹏 ZHOU Li;GAO Yang;YUE Pengpeng(School of Economics,Beijing Technology and Business University,Beijing 100048)

机构地区：[1]北京工商大学经济学院,北京100048

出　　处：《商学研究》2023年第3期65-77,共13页Commercial Science Research

摘　　要：文章基于2019年中国家庭金融调查(CHFS)数据,考察了居民金融素养对家庭幸福感的影响,并对其影响原因和传导机制展开分析。为了克服模型中存在的内生性问题,选取工具变量进行两阶段最小二乘估计。研究发现,金融素养水平会显著降低居民的家庭幸福感,主要通过家庭金融市场参与、风险异质性和家庭负债产生作用。从异质性分析可以看出,金融素养对城镇居民和风险厌恶家庭幸福感产生的影响更加明显。本文为厘清金融素养与幸福之间的关系提供了新的链条证据,为增强我国居民福祉提供了理论支撑。Based on the data of China Household Finance Survey(CHFS)in 2019,this paper investigates the impact of residents’financial literacy on sense of household happiness,and analyzes the contributory reasons and the transmission mechanism.In order to overcome the endogeneity problem in the model,we select instrumental variables for two-stage least squares estimation.We find that the level of financial literacy can significantly reduce the sense of household happiness mainly through household financial market participation,risk heterogeneity and household debt.From the heterogeneity analysis,we can see that financial literacy has a more obvious impact on the sense of happiness of urban residents and risk-averse families.This paper provides new chain evidence to understand the relationship between financial literacy and happiness,and provides theoretical support to enhance the well-being of Chinese residents.

关 键 词：金融素养 家庭幸福感 金融市场参与 风险异质性 家庭负债 

分 类 号：F832[经济管理—金融学] F126