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DAI Shengtao:Rural-to-urban Migration and the Diversity of Financial Asset Allocation

发布者:学报编辑部 [发表时间]:2021-05-15 [来源]:济南大学学报(社会科学版)编辑部 [浏览次数]:

     Based on the dataset of China's Comprehensive Social Survey (CGSS), this paper systematically studies the effect of spontaneous Hukou transition on the diversity of their financial asset allocation. We find that spontaneous Hukou transition can significantly increase the diversity of financial asset allocation and optimize its structure. In order to solve the endogenous problems caused by the reverse causality as well as "self-selection" process, we further adopt the instrumental variable and propensity score matching method to analyze the treatment effect and obtain a consistent estimation. In addition, heterogeneity analysis illustrates the age differences within the above effects. Overall, this paper provides empirical evidence for the relation between the Hukou system and financial asset from a new perspective. We conclude that: easing Hukou restrictions and broadening the channels for asset allocation of rural groups are such important policies that it can significantly promote the integration of urban and rural residents in the New Era.


【原文链接】戴圣涛:《进城落户与金融资产配置结构多样性》发表于《济南大学学报》(社会科学版)2021年第3期