互联网使用、金融素养与金融决策*——基于2013—2017年中国家庭金融调查的研究

基于中国家庭金融调查2013—2017年面板数据，本文研究了互联网使用对我国家庭金融素养和金融决策的影响。本文借助2013年“宽带中国”战略实施带来的政策冲击构建工具变量，采用面板工具变量模型识别互联网使用的因果效应。研究发现，互联网使用促进了家庭对正规金融产品的投资，金融素养在二者之间发挥了显著的中介效应。互联网使用还有助于缩小我国城乡家庭在金融素养和金融决策方面的差距。本文为改善我国家庭金融素养和金融决策提供了启示。

INTERNET USE,FINANCIAL LITERACY,AND FINANCIAL DECISIONS——A Study based on 2013-2017 China Household Finance Survey

 Based on the 2013-2017 panel data of China Household Finance Survey (CHFS), this paper investigates the effects of internet use on households financial literacy and financial decisions. It constructs instrumental variables based on the policy shock from the Broadband China strategy implemented in 2013, and uses the panel instrumental variable model to identify the causal effects of internet use. Results find that, internet use can significantly promote households investment in formal financial products, and financial literacy significantly mediates between them. Internet use also helps to narrow the urban rural gap in financial literacy and financial decisions. The findings are enlightening for improving households financial literacy and financial decision in China.