PURPOSE: To obtain the subject dispersion with a low content of an organic solvent in a mixed solvent and useful as a coating. etc., by specifying the nitric ester group and the carboxyalkyl ether group substitution degrees and the neutralization degree of a neutralized substance of a carboxyalkyl nitrocellulose with a basic compound.

CONSTITUTION: This aqueous resin dispersion is obtained by regulating a carboxyalkyl nitrocellulose having ≥0.2 nitric ester group substitution degree and ≥0.05 carboxyalkyl ether substitution degree based on one anhydroglucose group to 0.2-1.2, preferably 0.5-1.0 neutralization degree with a basic compound such as aqueous ammonia. The resultant neutralized substance is good in solubility in water and water resistance of the formed film and the aqueous resin dispersion prepared by dispersing the neutralized substance in a mixed solvent of water with a hydrophobic organic solvent has a low viscosity. Thereby, the amount of the organic solvent can remarkably be reduced and the film is good in stability of physical properties thereof with time.