CAJ | 학술논문

本文运用有关统计数据对我国居民2004-2007年的资产负债表进行了估计，在此基础上，对居民资产负债表的风险及配置效率进行了分析。结果表明，从风险角度看，我国居民资产负债表的稳健性强，不会因国际金融危机的冲击而出现资产负债风险急剧扩大的情况，相反，居民部门仍具备较强的资金实力和消费能力，为我国应对国际金融危机提供了良好基础；但从效率的角度看，居民金融资产的积累率过高，而金融资产投资渠道狭窄、收益较低，居民负债也还有一定的增长空间。应在继续保持居民资产负债表风险可控的基础，进一步改善居民资产结构，提高居民资产负债的配置效率，促进居民消费增长和国民经济发展。
본문운용유관통계수거대아국거민2004-2007년적자산부채표진행료고계，재차기출상，대거민자산부채표적풍험급배치효솔진행료분석。결과표명，종풍험각도간，아국거민자산부채표적은건성강，불회인국제금융위궤적충격이출현자산부채풍험급극확대적정황，상반，거민부문잉구비교강적자금실력화소비능력，위아국응대국제금융위궤제공료량호기출；단종효솔적각도간，거민금융자산적적루솔과고，이금융자산투자거도협착、수익교저，거민부채야환유일정적증장공간。응재계속보지거민자산부채표풍험가공적기출，진일보개선거민자산결구，제고거민자산부채적배치효솔，촉진거민소비증장화국민경제발전。
This paper explores the allocation efficiency and risks of Chinese households＇ balance sheets. It is found that household sector still has adequate funds and capacity of consumption, and the structure of Chinese households＇ balance sheets are stable and safe enough to avoid the attacks from international financial crisis. Meanwhile, on the side of efficiency, the accumulation rate of financial assets is too high, the investment channels are limited and the yield is low. In the next, for the purpose of growth in households＇ consumption and the national development, the authors suggest the better policy to improve the assets structure and the allocation efficiency of households＇ balance sheets based on the risk controllability.