消费金融驱动城镇居民消费升级研究——基于结构与质的多重响应

A Research on the Upgrading of Urban Residents Consumption Driven by Consumer Finance:Based on the Multiple Responses of Structure and Quality

将消费金融研究范畴界定为保险、消费信贷、储蓄、投资四个方面,认为消费金融通过配置效应、融通效应、财富效应、流动效应促进消费结构的转变与消费质量的提升,在消费结构与质量的多重响应中居民消费得以升级。在理论分析基础上,选取2000—2014年境内30个省、自治区、直辖市的面板数据对消费金融促进城镇居民消费进行实证研究,结果表明:从消费结构看,消费金融较为明显地促进了我国城镇居民消费结构由低级的食品、衣着向高级的交通通信等发展;从消费升级率看,对消费升级贡献由大到小依次是投资、保险、储蓄、消费信贷,但消费信贷的统计结果不显著;分区域的实证结果显示,保险和投资对东部发达地区的居民消费贡献最大,对西部欠发达地区居民贡献最小,呈现东中西的"阶梯式差异",欠发达地区消费升级较发达地区更依赖于传统的储蓄这一金融活动。

The research category of consumer finance is defined as four aspects：insurance,consumer credit,savings and investment.Consumer finance promotes the transformation of consumption structure and the improvement of consumption quality through the allocation effect,financing effect,wealth effect and flow effect.On the basis of theoretical analysis,by using the panel data of 30 provinces,autonomous administrative regions and municipalities from 2000 to 2014,this paper makes an empirical study on how the consumer finance promotes the urban residents consumption in China.The results show that,from the view of consumption structure,consumer finance has obviously promoted the development of urban residents consumption structure from the lower level of the food and clothing to the higher level of transportation and telecommunications.From the rate of consumption upgrading,the contribution of the consumption upgrade from large to small is investment,insurance,savings and consumer credit in turn,but the statistical results of consumer credit are not significant.The empirical results from different regions show that investment and insurance contribute the most to the consumption of residents in the eastern developed areas,and the least to the residents in the underdeveloped regions of the West.Hence,a ＂ladder type difference＂is presented among the east,the middle and the west.The less developed areas is more dependent on the traditional means of savings than the developed regions.