Research on the Impact of Ageing on Rural Household Debt Leverage——The Empirical Evidence From CFPS
In this paper,the household panel data of CFPS in 2014,2016,2018,and 2020 was used to investigate the influence of aging on rural household debt leverage by using a two-way fixed-effects model.The results show that aging can significantly reduce rural household debt leverage.The results remained reliable after the instrumental variable method was used to alleviate endogenous.The mechanism test shows that aging could significantly decline rural household debt leverage by increasing household savings.However,the burden of child-rearing,the burden of medical care for the elderly,economic support through upward intergenerational transfer,and family care and economic support through downward intergenerational transfer can significantly increase the impact of aging on rural household debt leverage.The impact varies among rural households with low education,low social capital,low income,and no major events,and in the East and Middle regions.This paper complements a comprehensive understanding of the impact of aging on rural household debt leverage and provides evidence for optimizing the social security system,preventing household financial risks,and maintaining financial stability.
Degree of AgingRural HouseholdDebt LeverageIntergenerational SupportChind-rearing
NETL
NSTL
万方数据
