拆迁返贫、路径依赖与家庭财富管理——一个金融制度变迁的研究

Demolition Back to Poverty, Path Dependence and Family Wealth Management: a Study on the Change of the Financial System

金融素养缺乏并非导致拆迁家庭返贫的唯一诱因,财富管理市场产品供给不足也是一个重要原因。因此,如果能够及时为这些拆迁家庭量身定做财富管理产品与服务,就有可能帮助他们避免拆迁返贫。在制度变迁的理论框架中,综合运用路径依赖、企业家精神和金融深化等相关理论,对拆迁返贫的典型案例进行分析后发现,正规金融机构财富管理的产品供给不足的确是导致拆迁家庭返贫的根源,而金融机构在财富管理产品研发方面动力不足的首要因素则是政府的抑制金融政策。因此,政府应该采取金融深化的政策,允许和鼓励财富管理市场上的企业家发挥才能,为拆迁家庭提供产品和服务,逐步改变现有该市场的供需不均衡状态。

Lack of financial literacy is not the only incentive that causes families to be demolished to return to poverty, but the fundamental reason is the insufficient supply of products in the wealth management market.Therefore, if wealth management products and services can be tailored for these demolished families in time, it may help them avoid demolition and return to poverty. In the theoretical framework of institutional change, the comprehensive application of path dependence, entrepreneurship and financial deepening and other related theories, after analyzing the typical cases of demolition and returning to poverty, it is found that the insufficient supply of wealth management products of formal financial institutions is indeed causing the demolition of families to return to poverty, and the primary factor for the lack of motivation of financial institutions in the development of wealth management products is the government’s financial restraint policy. Therefore, the government should adopt financial deepening policy to allow and encourage entrepreneurs in the wealth management market to display their talents, provide products and services for relocated families, and gradually change the current imbalance between supply and demand in the market.