Gender Ratio,Residents' Education Level And Household Savings Rate

The long-standing saving rate in China has affected the total domestic consumption demand.Some scholars have studied China's high saving rate and proposed various factors affecting the savings rate,such as the demographic structure,gender ratio,and social security systems,and so on.After the 1980s,the gender gap in China showed a clear upward trend.Some scholars have pointed out that the rise in the sex ratio has reduced the household savings rate to a certain extent.At the same time,along with the popularization of nine-year compulsory education,the education level of residentsin China has generally increased.Some studies have shown that the increase in the level of education has reduced the residents' willingness to save,leading to a reduction in the household savings rate.From a new perspective,this article comprehensively examines the relationship between gender ratio and the education level of the residents and the savings rate,and puts forward some feasible suggestion for reducing the savings rate of Chinese residents.Gender ratio affect the savings rate through two mechanisms.First of all,the gender ratio influences savings through the competitive saving motives of the marriage market.When there are differences in the number of sexes in the marriage market,there is more intense competition for the majority of the population.In order to increase their own competitiveness and thus find a favorite partner in the marriage market,individuals usually increase their wealth through saving behavior.Secondly,gender ratio exist in nature.Women pay more attention to the health of their children and the happiness of their families.Women are inferior to men in obtaining economic income and social resources.At the same time,women also have a longer life expectancy and sense of urgency,which leads to women's stronger motivation for saving.There are four mechanisms influencing the residents' education level on the residents' savings rate.First people with different levels of education differ in their investment and financial management capabilities.Higher-educated people are more likely to invest their income in the capital market because they have a better grasp of financial market knowledge and thus have a lower tendency to save.The second is the precautionary saving motivation.Residents are more educated,and they are more likely to have high incomes.Social security such as medical insurance is more complete and they have smaller incentives for saving.Third,employment flexibility is different.Those who are educated in higher education have higher professional skills,have lower costs to change jobs,and tend to save less.Fourth,persistent income.Higher education people are expected to have higher income,which will increase their savings accordingly.This paper conducts descriptive statistical analysis of the provincial data in the North and South regions and Eastern and Central Western Regions,and finds that there are differences in sex ratio,education level of residents and household savings rate in North and South China.At the same time,this paper uses the differential GMM analysis method to conduct statistical analysis of the provincial-level panel data model,further validates the relationship between gender ratio,education level of residents and household savings.In addition,empirical analysis was conducted on the relationship between gender ratio in different regions,education level of residents and household savings rate.Draw a conclusion,As the proportion of sex increases and the level of education of residents decreases,the household savings rate will decline.The main variables of the region are similar to the country.In addition,this article also takes into account the impact of demographic structure,income differences,inflation income level,financial development level,interest rate and other factors,the model adds the total dependency ratio,Gini coefficient,inflation rate,per capita income growth rate of residents,proportion of private credit,real interest rate and other control variables.The results show that the proportion of private credit and and inflation rate are negatively correlated with the household savings rate,while total dependency ratio,per capita income growth rate of residents,real interest rate and the Gini coefficient is positively correlated with the household savings rate.At the end of the article,the paper proposes corresponding policy recommendations based on the results of empirical analysis.Firstly,the government should pay attention to the economic and social impact of gender imbalance and take measures to promote gender balance.Secondly,we should popularize higher education,balance the regional distributional of educational resources,attach importance to the development of vocational education,and promote 12-year compulsory education.Finally,improve individual consumer credit systems and promote consumer spending.