共同富裕视角下金融知识对家庭财富积累的影响研究

Research on the Influence of Financial Knowledge on Household Wealth Accumulation

本文使用中国家庭金融调查(CHFS)两期面板数据,基于效率与公平角度,使用固定效应模型,选取社区平均金融知识水平作为工具变量,探讨了金融知识对家庭财富积累以及家庭财富差距的影响。研究发现,金融知识显著提高了中国家庭财富积累增长效率。机制分析表明,金融知识主要通过改善家庭资产配置结构和提升家庭金融信息获取能力等路径促进家庭财富积累增长。进一步分析表明,金融知识对城镇、东部发达地区以及高财富、高教育、高收入家庭财富积累增长的促进作用更大,但金融知识无法缩小家庭财富差距,不利于家庭财富公平分配。缩小家庭财富差距关键在于畅通落后地区、弱势家庭在金融知识财富累积效应上的传导机制。

With the continuous accumulation of family wealth,the problem of wealth gap gradually highlights.Based on the panel data of China Household Finance Survey(CHFS),this paper explores the relationship between financial knowledge and household wealth accumulation and wealth gap by using a fixed effect model and selecting“average financial knowledge level of community”as an instrumental variable from the perspective of efficiency and equity.It is found that financial knowledge significantly improves the efficiency of Chinese household wealth accumulation and growth.The mechanism analysis shows that financial knowledge mainly promotes the accumulation of household wealth through improving the structure of household asset allocation and enhancing the ability to obtain financial information.Further analysis shows that financial knowledge plays a greater role in promoting the growth of family wealth accumulation in urban and eastern developed areas,and in promoting the growth of wealth accumulation in families with high wealth,high education and high income advantages.However,financial knowledge cannot narrow the gap of family wealth and is not conducive to the fairness of family wealth distribution.The key to narrow the family wealth gap is to smooth the transmission mechanism of financial knowledge and wealth accumulation effect in backward areas and disadvantaged families.