题目：Risk Smoothing and Digital Financial Inclusion: Evidence from China’s Digital Finance Revolution

报告人：王勋，北京大学国家发展研究院，助理研究员

时间：2019年11月1日(周五) 15:30～17:00

地点：经管院B247

报告摘要：

This paper provides evidence of how digital inclusive finance initiated by private Fintech companies affects household risk smoothing in China. Using a large panel household survey dataset and fixed effects identification strategy, we identify economic mechanisms through which the development of digital finance improves household risk smoothing. We provide convincing evidence that households that experience idiosyncratic negative shocks on income growth exhibit a disproportionally lower level of reduction in idiosyncratic consumption growth in regions with better developed digital finance, and this is not just attributable to improved risk sharing through the reduction in transaction costs of remittance that digital finance provides, but also due to the liquidity and saving effects that digital financial products may generate. However, the development of traditional banking credit market does not appear to promote household risk smoothing. Our paper provides new insights into the real effects of informal digital financial market development on the economy.

报告人简介：

王勋，北京大学国家发展研究院助理研究员。主要研究领域为金融改革、国际金融与中国经济。曾在瑞典斯德哥尔摩经济学院从事博士后研究。在Oxford Bulletin of Economics and Statistics, China economic review, Growth and Change以及《中国社会科学》、《经济研究》等中英文期刊发表论文多篇。2011年毕业于北京大学国家发展研究院，获经济学博士学位。