Research On The Influence Of Financial Knowledge On Chinese Family Financial Exclusion

With the rapid development of China's economy,the financial industry has also shown strong vitality,and various financial services and financial products are increasingly rich.However,due to the existence of financial exclusion,a large number of financial resources can not be effectively absorbed by the family.The existence of financial exclusion has accelerated the gap between the rich and the poor in society and disrupted the social and economic order,making financial exclusion a focus of scholars.Because of the availability of data,most scholars' research on financial exclusion mostly focuses on the macro analysis of provincial panel data to explore the causes of financial exclusion,and the level of financial knowledge as an important human capital factor is also difficult.Being measured is more often ignored by scholars.Then,at the micro level,research on the impact of financial knowledge on family financial exclusion has not only structurally enriched the research framework of financial exclusion,but also has more persuasiveness in the specificity and accuracy of data samples.This paper selects the China Family Finance Survey 2013(CHFS)data surveyed by Southwestern University of Finance and Economics,builds appropriate financial knowledge indicators and financial exclusion indicators through factor analysis,and uses instrumental variables to explore the impact of financial knowledge on Chinese household financial exclusion.The thesis is divided into five chapters: The first chapter is the introduction,which mainly introduces the research background and significance,the related literature review at home and abroad,and the research ideas and methods.The second chapter is the theoretical basis and mechanism analysis.It mainly organizes the theoretical basis of financial knowledge and financial exclusion,including the definition,classification and measurement methods of financial knowledge and financial exclusion.On this basis,this paper classifies the options of the corresponding questionnaires into six-dimensional financial exclusion in strict accordance with the definition of financial exclusion.Finally,it analyzes the mechanism of financial knowledge affecting family financial exclusion.The third chapter is the analysis of the status quo,mainly through the CHFS data,descriptive statistical analysis of the financial knowledge measurement questions,the use of various financial services and financial products,and intuitive display of the financial knowledge level and financial exclusion level of Chinese families..The fourth chapter is the empirical analysis.This chapter selects 8229 family samples from the CHFS data,constructs the financial knowledge level and financial exclusion level of each family through factor analysis,and uses multiple linear regression to study financial knowledge for Chinese family financial exclusion.The impact of the problem is solved by using the instrumental variables,and finally the reliability of the estimation results is confirmed by the robustness test.The fifth chapter is the conclusion and suggestion.On the basis of the previous analysis,the paper summarizes the full text and puts forward corresponding suggestions on the impact of financial knowledge on Chinese family financial exclusion.The research findings in this paper are as follows:(1)Under the conditions of controlling other influencing factors,financial knowledge has a significant mitigation effect on financial exclusion of Chinese households,financing family financial exclusion and investment family financial exclusion.(2)The degree of influence of financial knowledge on financing family financial exclusion and investment financial exclusion is different.The impact of financial knowledge on household investment financial exclusion is greater than that of household financing financial exclusion.(3)In addition to financial knowledge,we find that the higher the education period of the head of the household,the head of the household is the Communist Party,the health of the head of the household,the middle and high-level positions of the head of household,household income,household assets and the per capita GDP level of the region will be significantly beneficial to alleviate the family's financial Rejection.Therefore,this paper proposes to build a long-term mechanism for popularizing financial knowledge,to enhance the public's awareness of basic financial knowledge;to pay attention to the positive role of financial knowledge in the survival and development of today's society,and to strive to improve its level of financial knowledge;the government should introduce appropriate The corresponding policies to guide and encourage people to learn the basics of finance,create a good learning atmosphere;use the Internet as a carrier to set up an online financial knowledge network course,financial knowledge popular science number,etc.,to provide more convenience for the people to learn basic finance.Channels;financial institutions should optimize and adjust service and product structure,improve their service quality,and reduce financial exclusion in multiple dimensions.