农户非农就业、金融素养与家庭金融资产配置

Non-agricultural Employment,Financial Literacy and Household FinancialAssets Allocation of Peasant Households

通过建立对数正态跨期决策模型从理论上探讨了非农就业、金融素养和金融资产配置三者之间的关系,利用中国家庭金融调查(CHFS)2015年全国调查数据进行实证检验。结论显示,相对于在家务农,农户非农就业会显著提高其金融市场参与率和风险金融资产配置比例,而且金融素养是非农就业影响农户金融行为的一条重要渠道,其中介效应可达14%左右。研究结论指出,扩大农户非农就业空间、提高农户金融素养能够有效缓解农村金融排斥,提高农户金融市场参与,使农户有更多机会进入金融市场进行投资理财并实现其资产的保值增值。

The relationship among non-agricultural employment,financial literacy and financial asset allocation is discussed theoretically by establishing a log normal stylized two period model.The empirical test is carried out using the data of China Household Finance Survey(CHFS)national survey in 2015.Empirical results show that compared with those lived by farming,non-agricultural employment of peasant households will significantly increase the rate of financial market participation and the proportion of risky financial assets allocation,and financial literacy is an important channel for non-agricultural employment to affect farmers’financial behavior,and the intermediary effect can reach about 14%.The study concludes that it is necessary to expand the non-agricultural employment space and improve financial literacy of peasant households can effectively alleviate rural financial exclusion,improve peasant households'participation in financial markets,and provide farmers with more opportunities to invest in financial markets,and realize the value preservation and appreciation of their assets.