Family Savings For Children’s Education And Children’s Academic Performance

In the research of factors affecting children’s academic performance,income is the most commonly used indicator for measuring the economic resources of a family.However,a growing body of research has found that family assets also play a role in children’s academic performance.This study focuses on the family savings for children’s education,analyzing the associations between such family assets and children’s educational achievement.Based on assets building theory,this study uses the data from the 2016 China Family Panel Studies(CFPS)to examine the associations between family savings for children’s education and children’s academic performance in the cultural and societal context of China using the Oprobit model.Also,the KHB decomposition method provides insights into the mechanism of how family savings for children affect child education.In consideration of the resource conversion differences among different groups,this study further examines the differences of saving effects between high-and low-income families,also between urban and rural families in the heterogeneity analysis.The basic conclusions are as follows:Firstly,consistent with the asset building theory,this study finds that family assets play an important role in children’s development.Family savings for children’s education has a significantly positive effect on children’s performance with family income controlled,no matter in math or read.Secondly,compared to high-income and urban families,family savings for children’s education is more beneficial to improve the academic performance of children from low-income and rural families.Thirdly,both parental expectations,as well as their involvement can mediate the associations between family savings for children’s education and children’s academic performance.Specifically,For the effect of family savings for children’s education on children’s math performance,parental expectation as a mediating variable can explain 8.114%,and parental involvement can explain 4.081%.For the effects of fami ly education savings on children’s reading performance,parental expectation as a mediating variable can explain 12.881%,and parental involvement can explain 9.084%.Currently,China has completed the arduous task of eradicating absolute poverty.Consolidating and expanding the achievements of poverty alleviation has become a new goal.This study plays a certain role in reference to social policies such as educational equality,child welfare even the way to establish a long-term mechanism to address relative poverty in China’s new era.