普惠金融、数字渗透与家庭金融脆弱性  

Inclusive Finance,Digital Penetration and Household Financial Fragility

作　　者：李容 张凯[2,3] 曹斌 谢铖 Li Rong;Zhang Kai;Cao Bin;Xie Cheng

机构地区：[1]深圳大学中国经济特区研究中心 [2]深圳大学深圳南特金融科技学院 [3]深圳大学微众银行金融科技学院 [4]西南证券股份有限公司

出　　处：《财经科学》2023年第11期17-32,共16页Finance & Economics

基　　金：深圳市人文社会科学重点研究基地深圳大学大数据经济与金融研究中心的资助。

摘　　要：数字技术向金融行业的渗透改变了传统普惠金融业态,对家庭部门风险也产生了深刻影响。本文利用CHFS2013—2019年四轮微观调查数据,探究普惠金融、数字渗透对家庭金融脆弱性的影响,着重考察传统和数字普惠金融的作用差异及互动关系。研究发现,普惠金融、数字渗透均缓解了家庭金融脆弱性。相较于传统普惠金融,数字普惠金融具有更强的缓解效应,能够更为有效地降低家庭金融准入门槛、促进金融信息获取,并在此基础上,通过影响家庭能力投资和金融资产配置效率缓解家庭金融脆弱性。进一步研究发现,两者在缓解家庭金融脆弱性方面存在“互补关系”,且在低人力资本、低物质资本、农村和高脆弱性家庭上表现出更强的互补效应。The penetration of digital technology into the financial sector has reshaped the traditional inclusion financial landscape and has had a profound impact on household sector risk.The study explores the impact of inclusion financial and digital penetration on household financial fragility using four rounds of CHFS micro-survey data from 2013-2019,focusing on the differences and inter-play between traditional and digital inclusive finance.The study finds that inclusive finance and digital penetration both mitigate household financial fragility.Compared with traditional inclusive finance,digital inclusive finance has a stronger mitigating effect.As it can more effectively lower household financial access barriers,facilitate access to financial information.On this basis,mitigat-ing household financial fragility by affecting household capacity investment and financial asset allocation efficiency.Further study finds that there are complementary in mitigate household financial fragility.Exhibiting stronger complementary effects on household of low human capital,low physical capital,rural and high fragility.

关 键 词：普惠金融 数字渗透 家庭金融脆弱性 互补关系 

分 类 号：F832.5[经济管理—金融学]