农村金融发展的人力资本门槛效应研究

A Study on the Threshold Effect of Human Capital in Rural Financial Development

关于金融发展"财富门槛"效应的研究可谓浩如烟海,然而金融发展的人力资本门槛却是学界较少关注的地方。本文运用2006-2014年间中国省级面板数据,对农村金融发展的人力资本门槛效应进行检验,发现:(1)农村金融发展存在显著的双重人力资本门槛效应。(2)随着人力资本的逐渐提升,农村金融发展对农民收入的影响由最初的强烈抑制逐渐变为中度抑制并最终变为微弱促进。(3)农民人力资本与农村金融发展的耦合度与农民收入水平存在着明显的正向相关关系,但目前二者的耦合度还普遍较低。综上,要发挥农村金融发展对农民收入增长的促进作用,不仅需要围绕农村金融自身进行改革,还必须充分考虑农民人力资本的实际情况,否则金融产品服务创新便无法与市场进行有机结合。此外,还应通过教育和培训提升农民人力资本,实现农村金融发展与农民人力资本实现良好的耦合互动,进而让农村金融的发展更加有效地缓解"三农"问题,助推全面小康的实现。

There are many studies about the ＂wealth threshold＂ effect in financial development. However, the human capital threshold in financial development is less concerned. Using Chinese provincial panel data from 2006 to 2014, this paper examines the human capital threshold effect of rural financial development. Our results show that there is a significant double human capital threshold effect in rural financial development, as the human capital improve gradually, the effect of rural financial development on the income of farmers changed from the initial strong inhibition to moderate inhibition, and eventually become weak promotion. The coupling degree of farmers＇ human capital and rural financial development has a positive correlation with the income level of farmers, but the current coupling degree of each province is generally low. Overall, we must not only focus on the reform of rural finance itself, but also pay attention to the actual situation of farmers ＇ human capital, if we want the financial development to promote the growth of farmers＇ income. Otherwise, financial products and services innovation can＇ t be combined with the market. In addition, it is necessary to improve the farmers＇ human capital through education and training, realize the good coupling between the rural financial development and the farmers＇ human capital, and make the development of rural finance more effective to alleviate the problems of agriculture, countryside and farmers, boosting the realization of a comprehensive well-off.