知识改变命运:金融知识与微观收入流动性

Knowledge Changes Fate:Financial Literacy and Micro Income Mobility

"金融知识"已经被广泛证实与个体金融行为联系紧密,较高金融知识水平的个体往往在金融市场上表现更好。本文借助收入转移矩阵考察了中国城市家庭的收入流动性情况并研究了金融知识对家庭收入流动的影响。总的来说,国内居民金融知识水平差异较大,金融知识的提高有助于低收入家庭跃迁至高收入阶层。在资本市场全面改变人们生活的今天,本文从一个新的视角来研究微观收入流动性,对后续的研究具有一定启发意义。

Financial literacy has been widely proved to be related with various individual financial behavior and people with higher level of financial literacy tend to behave better in financial markets. In this paper, using income transition matrix and Probit model, we look at how financial literacy will eventually work on micro income mobility. Our results show that families with higher level of financial literacy possess higher probability of upward income mobility. As our daily life tends to get more and more involved with the capital markets, our findings provide a brand - new but promising angle for micro income mobility research.