债券市场发展对居民消费支出的促进作用显著大于股票市场。因此,为充分发挥金融市场对居民消费的提振作用,应积极扩大债券市场规模随着经济发展和收入提高,居民在满足当前生活需要外还有超额收入,于是面临继续提高当前的消费还是将超额收入进行储蓄、转移到未来进行消费的选择,这就是居民的跨期消费选择问题。金融市场作为消费者资产配置的重要场所, The promotion of the bond market has a greater effect on the consumer spending than the stock market. Therefore, in order to give full play to the boosting effect of financial markets on household consumption, we should actively expand the size of the bond market. With economic development and income growth, residents have excess income in addition to meeting the needs of current living. So, in the face of continuing to increase current consumption, Excess income savings, transfer to the future consumer choice, this is the issue of residents’ intertemporal consumption choice. Financial markets as an important place for the allocation of consumer assets,