社会网络、民间借出款与农村家庭金融资产选择——基于中国家庭金融调查数据的实证分析

Social Network,Private Lending and Financial Asset Selection of Rural Families: On Household Finance Survey in China

基于中国家庭金融调查(CHFS)数据,考察社会网络对农村家庭民间借出这一金融资产选择行为的影响。研究发现:家庭社会网络关系越强,越有助于降低借出风险,农村家庭民间借出参与率和借出款比例越高,并且使用不同代理变量结论仍保持稳健;收入越低的农村家庭,社会网络对其民间借出行为的正向效应越显著;社会网络对农村家庭民间借出行为的作用随着收入的提高、正规金融的发展而逐步减弱。

Based on the data of CHFS,this paper probes into the impact of social netw ork on private lending behavior of rural families. The results are as follow s.（ 1） The stronger the family social netw ork,w hich helps to reduce lending risk,the higher the participation rate and degree of the private lending of rural families,and the conclusion is still robust even if different proxy variables are used.（ 2） The low er the income of rural families,the more significant the impact of social netw ork.（ 3） With the increase of income and the development of formal finance,the effect of social netw ork on the private lending behavior of rural families w ill decrease.