农村数字金融发展对家庭金融风险的影响研究

Research on the Impact of Rural Digital Finance Development on Household Financial Risks in China

数字金融的发展对促进我国“三农”发展具有现实意义,在此背景下,数字金融产品将对农村家庭的生活模式、经济运转以及面临风险的处理等方面产生一定影响。基于2019年中国家庭金融调查(CHFS)数据,从农村数字理财产品、数字信贷产品和数字支付产品的使用情况等微观视角,运用熵值法测度农村数字金融发展水平,并实证探究农村数字金融发展对家庭金融风险的影响。研究结果表明,农村数字金融发展能够显著缓解家庭金融风险,在一系列内生性、稳健性检验下结果依旧显著;机制分析表明,农村数字金融发展可以通过提高家庭金融素养和拓宽家庭社会关系来缓解家庭金融风险,且对低收入家庭更为显著;异质性分析发现,农村数字金融发展能显著缓解西部农村地区、低教育程度、老龄化、偏好风险及具有务工经历家庭的金融风险。

The rapid development of digital finance has impact on China’s economic development,social change and people’s lives.However,the problem of household financial risks is constantly highlighted.Whether rural digital finance can alleviate household financial risks deserves in-depth research.This article is based on the China Household Finance Survey(CHFS)data,and for the first time,measures the development level of rural digital finance from micro perspectives such as the use of rural digital wealth management products,digital credit products,and digital payment products using the entropy method,and empirically explores the impact of rural digital finance development on household financial risks.The research results indicate that the development of rural digital finance has a significant inhibitory effect on household financial risks,and the results remain stable after addressing endogeneity issues.Mechanism analysis shows that the development of rural digital finance can alleviate household financial risks by improving the financial literacy and expanding family social network relationships,especially for low-income families.Heterogeneity analysis found that in the western region,low education level and aging families,rural digital finance development has a more significant inhibition on family financial risks,and has a poor effect on risk aversion and families without work experience.