数字金融发展与居民家庭资产配置效率
首发时间:2023-11-21
摘要:本文基于CHFS 2015年、2017年、2019年三轮的家庭金融调查数据,结合北京大学数字普惠金融指数数据库,采用Tobit模型,研究数字金融的发展对家庭配置效率的影响,并进行了相关的稳健性检验与异质性分析。研究发现,数字金融的发展会显著提高家庭资产配置效率,并且这种影响在东部地区和中部地区具有促进资产配置效率提高的作用,而在西部和东北部地区具有抑制资产配置效率提高的作用;此外,从资产水平的差异来看,数字金融发展对家庭资产配置效率的提高随着家庭资产水平的提高而提高。
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Development of digital finance and the efficiency of household asset allocation
Abstract:Based on data from three rounds of household financial surveys conducted by CHFS in 2015,2017 and 2019, combined with the Peking University Digital Pratt & Whitney Financial Index Database, this paper adopts the Tobit model, this paper studies the impact of the development of digital finance on household allocation efficiency, and carries out the relevant robustness test and heterogeneity analysis. The study finds that the development of digital finance can significantly improve the efficiency of household asset allocation, and this influence has the effect of promoting the efficiency of asset allocation in the eastern and central regions, in the west and northeast of China, it can restrain the improvement of asset allocation efficiency.
Keywords: Household Finance Digital finance development Asset allocation efficiency Sharp ratio
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