居民受教育水平与家庭金融脆弱性实证研究

An empirical study on residents education leveland household financial vulnerability

家庭金融脆弱性能够衡量消费者家庭经历财务困难的可能性。为探究家庭金融脆弱性的影响因素,尤其是居民受教育水平在其中的作用,我们根据2018年中国家庭追踪调查的样本数据,使用有序Probit模型分析家庭金融脆弱性的影响因素及其边际效应。结果表明:家庭成员受教育水平越低的群体,家庭金融脆弱性越高;对于房贷支出低的家庭,家庭金融脆弱性更显著地受到受教育水平的影响;家庭老龄化程度、家庭人口规模对家庭金融脆弱性有着正向影响,城镇化水平则有着负向影响。研究结果可为防范、化解重大金融风险和控制宏观杠杆率提供参考。

Household financial vulnerability measures the likelihood that consumer families will experience financial difficulties.In order to explore the influencing factors of household financial vulnerability,especially the role of residents education level,based on the sample data of China Family Panel Studies(CFPS)in 2018,the ordered Probit model was used to analyze the influencing factors and the marginal effects of household financial vulnerability.The results show that the lower education level of family members is,the higher household financial vulnerability is;for the families with low mortgage expenditure,household financial vulnerability is more significantly affected by the education level;the degree of family aging and the size of family population have a positive impact on household financial vulnerability,while the level of urbanization has a negative impact.The research results can provide reference for preventing and defusing major financial risks and controlling macro leverage ratio.