The Impact of Intergenerational Economic Support on Family Wealth Accumulation—A Moderated Mediation Effect Model
Against the backdrop of the 20th National Congress of regulating the Communist Party of China's wealth accumulation mechanism,the issue of"intergenerational solidification"of social wealth is increasingly valued.Reasonable regulation of it has strate-gic significance for alleviating the wealth gap.However,existing research has rarely touched upon this issue.Based on the theory of in-tergenerational transfer,this study systematically examines the impact of intergenerational economic support on family wealth accumulation using data of China Family Panel Studies(CFPS)from 2010 to 2020.The study reveals the mediating role of consumption upgrading and the moderating role of education level.The research findings indicate that intergenerational wealth transfer significantly increases family wealth accumulation.Moreover,consumption upgrading negatively regulates the positive relationship between intergenerational economic support and family wealth accumulation.Additionally,education level negatively regulates the mediating effect of consumption upgrading on intergenerational economic support and family wealth accumulation.Based on these findings,suggestions are proposed to promote non-legal means for families to complete consumption upgrading and transformation,as well as to steadily promote legal means for inheritance and gift taxes.This provides effective policy reference for the government to solve the problem of intergenerational wealth solidification.
intergenerational economic supportfamily wealth accumulationconsumption upgradingintergenerational solidifi-cation of wealth
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