金融素养对城乡居民家庭收入的影响研究——基于CFPS数据的实证分析

The influences of flnancial literacy on household income of urban and rural residents:An empirical analysis based on CFPS data

提高城乡居民收入是决胜全面小康的关键,金融素养则是影响城乡居民家庭收入的重要因素。基于2014年中国家庭追踪调查数据(CFPS),利用2SLS模型分析居民金融素养指数,探讨金融素养对居民家庭收入及其结构的影响。结果表明,我国居民金融素养处于中等偏低水平,大部分居民家庭的收入处于中等水平,居民金融素养的均值与居民家庭总收入均呈上升趋势。金融素养对家庭总收入、工资性收入和财产性收入具有正向作用,对家庭转移性收入存在负面影响。本文进一步细分家庭转移性收入和财产性收入后,结果表明金融素养对救济性转移收入存在显著负向作用,对养老金收入存在显著正向作用。金融素养对家庭投资获利收入与非投资获利收入都存在显著的正面影响,但金融素养会通过农村户口和城镇居民年龄的影响进而制约居民家庭投资获利收入的提高。因此,政府要加大金融通识教育,提高居民金融素养;要加大金融立法和监管力度,维护良好的金融秩序。

Increasing the income of urban and rural households is a key to the victory of realizing the overall well-off.While financial literacy is an important factor affecting the income of urban and rural households.Based on the 2014 China Family Panel Studies(CFPS)data,this paper analyzed the financial literacy index of households by the 2SLS model and explored the influences of financial literacy on household income and its structure.Results show that financial literacy of Chinese residents is at the moderate to low level,and the income of most households is at the middle level.The mean value of financial literacy of Chinese residents and the total income of households are both on the rise.This research also finds that financial literacy has a positive effect on total household income,wage income and property income,but a negative effect on transfer income.After further subdividing household transfer income and property income,the modeling results show that financial literacy has a significant negative effect on relief transfer income and a significant positive effect on pension income.In addition,financial literacy has a significant positive impact on both family investment income and non-investment income.However,financial literacy restricts the increase of family investment income through the influence of rural household registration and the age of residents.Therefore,the government should develop general financial education to improve residents’financial literacy and strengthen financial legislation and supervision to maintain a good financial order.