Research On The Impact Of Farmers' Financial Assets On Household Consumption Expenditure

In the process of economic development,the three most powerful "engines" for a country's GDP growth are investment,consumption,and exports.For our country,our government pays more attention to investment and exports than consumption,which also leads to the state of domestic demand being not fully activated.With the increasing ladder of per capita disposable income of our residents,the wealth in the hands of residents has gradually increased,and the composition and structure of these wealth are constantly enriched and diversified.However,no matter how the wealth of the residents increases,the types of assets based on real estate and financial assets are irreplaceable.The allocation of such assets also means that the wealth of the residents will be affected by asset price fluctuations.The loss of the value of assets directly means the increase and decrease of wealth in the hands of residents.In particular,as China's economic strength continues to increase,it has gradually made the United States feel that the status of the world's number one economy has been threatened.The trade has deepened in the process of globalization,and the resulting frictions and conflicts have continued to occur.This series of realities has led to The large fluctuations in asset prices in China are becoming more normal.This paper adopts the combination of qualitative analysis and quantitative analysis,based on the three major income theories,life cycle theory and preventive savings theory,combing the relevant domestic and foreign research literature on financial assets affecting consumer behavior,and clearly defining farmers and financials.Core concepts such as assets and household consumption expenditures.The first chapter of this paper first introduces the status of rural household financial assets and household consumption,as well as the financial assets and consumption of urban and rural residents,and uses the multiple regression method to carry out regression analysis on variables.The study found that different types of financial assets have different effects on household consumption expenditures.The total price of financial products,cash and demand deposits,time deposits,insurance expenses,unrecovered loans,bank loans to be repaid,and loans to be paid by relatives and friends have a significant positive impact on household consumption expenditures,but consumption elasticity varies.Profits from investment in financial products have a significant negative impact on farmers' consumption expenditures.The financial assets of farmers in different regions have different effects on consumer spending.The total price of financial products held by farmers has a significant negative impact on farmers' food consumption,and has a significant positive impact on farmers' travel and clothing consumption.The significant reduction in food expenditure caused by the increase in the total value of farmers' financial products,while the significant increase in travel and clothing consumption means that the Engel coefficient of farmers has decreased and the consumption structure has been optimized.The impact of cash and demand deposits held by farmers on various types of consumer spending is exactly the same as the impact of income,which is also a significant positive impact on other types of consumption other than health care consumption,which also confirms the With the popularity of mobile payments,current account accounts now have a payment account function that has an impact on consumption.The main innovations of this paper are as follows:(1)In the empirical analysis,CFPS samples that can distinguish different spatial regions are selected to study the different impacts of rural residents' financial assets on consumption in different regions.(2)Using micro-level rural households to conduct research on the sample selection in empirical research,not only analyzes the impact of financial asset wealth effect on rural residents' consumption,but also analyzes the precautionary saving behavior caused by the risk effect of financial assets.The impact of rural residents' consumption.(3)Separating financial assets(divided into four categories of financial assets)rather than as a whole,returning to the consumption of rural residents,in order to distinguish the differential impact of different financial assets on rural residents' consumption.The paper further divides the consumption of rural residents into clothing,food,housing,transportation,science and education,and health care consumption,as well as grouping rural residents according to income,in order to carefully analyze different types of finance of rural residents with different income levels.The differential impact of assets on different types of consumption.