The Effect of Financial Literacy on Household Commercial Insurance Participation: An Empirical Research Based on the Data of China Household Finance Survey
Qin Fang, Wang Wenchun, He Jincai
Survey and Research Center for China Household Finance,Southwestern University of Finance and Economics; Financial Research Center, Fudan University; School of Economics and Management, Chongqing Jiaotong University
Abstract:
By using China Household Finance Survey (CHFS) data, the paper investigates the effect of financial literacy on household commercial insurance participation. The paper finds that financial literacy promotes households’ participation in commercial insurance market. The effect has no difference between rural and urban household. Moreover, people with higher financial literacy tend to expend more on insurance premium. Our findings suggest that popularization of the residents’ financial knowledge is an important means to promote the development of commercial insurance market.
秦 芳, 王文春, 何金财. 金融知识对商业保险参与的影响——来自中国家庭金融调查(CHFS)数据的实证分析[J]. 金融研究, 2016, 436(10): 143-158.
Qin Fang, Wang Wenchun, He Jincai. The Effect of Financial Literacy on Household Commercial Insurance Participation: An Empirical Research Based on the Data of China Household Finance Survey. Journal of Financial Research, 2016, 436(10): 143-158.
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