Research On Rural Labor Migration And Household Saving Rate

In the post epidemic era,domestic demand is the fundamental driving force for China’s economic development.The Political Bureau meeting of the CPC Central Committee held on July 30,2020,proposing "accelerating the formation of a new development pattern with the domestic big cycle as the main body and domestic and international dual circulation promoting each other",which pushes us to find a matching endogenous driving force for China’s sustainable and high-quality economic development.However,the problem of high saving rate of rural households has become an important factor restricting the further expansion of domestic demand.This paper studies the problem of high saving rate of rural household from the perspective of rural labor migration,which can provide a new perspective and evidence for understanding China’s household saving behavior,and provide corresponding policy reference for further expanding domestic demand.This paper uses the CFPS 2018 as an empirical study,focusing on the impact of household labor migration and the number of migrant workers on household savings rate.The innovations of this paper are as follows:first,most of the research literature on saving rate uses macro data for empirical analysis,this paper uses CFPS micro data to study the mechanism of labor migration on household saving rate;second,this paper uses instrumental variable method to overcome the problem of missing variables and family self selection,and also uses treatment effect model and PSM.The empirical results show that the labor migration has a significant positive impact on the household saving rate;thirdly,this paper further studies the impact mechanism of labor migration on household saving rate,and finds that the precautionary saving behavior of migrant workers is the main reason for the rise of saving rate.This paper expounds and studies the rural migrant workers and household savings rate with six parts.The first part is the introduction,which mainly introduces the research background,research content,significance and innovation and contribution of this paper;the second part summarizes and analyzes the relevant literature at home and abroad;the third part introduces the econometric model,data processing and data sources;the fourth part analyzes the empirical results,the fifth part analyzes the mechanism and heterogeneity analysis,and The sixth part summarizes the impact of labor migration and household saving rate,and puts forward corresponding policy recommendations.