The Meaning of Opportunity Equity:Social Mobility and Household Consumption
Enhancing social mobility is an in evitable requirement for accelerating the formation of an olive-shaped social structure and promoting the realization of the goal of common prosperity.The article uses data from the China General Social Survey(CGSS)and the China Family Tracking Survey(CFPS)to measure the level of social mobility in each region of China and examines the impact of social mobility on household consumption expenditure.The article finds that:regional social mobility enhancement can significantly promote the increase of per capita household consumption expenditure,and this conclusion still holds under a variety of robustness tests;the mechanism test finds that boosting consumer confidence and reducing social inequality are two important channels through which social mobility enhancement promotes the increase of per capita household consumption expenditure;and the results of the heterogeneity analysis show that the promotion effect of social mobility enhancement on per capita household consumption expenditure The results of heterogeneity analysis show that the promotion effect of enhanced social mobility on per capita household consumption expenditure is more significant in households with high social trust and low dependency burden,and in regions with high levels of economic development.The article reveals the significance of opportunity equity in stimulating domestic effective demand from the perspective of social mobility.
Social MobilityEquity of OpportunityPrecautionary SavingsSocial InequalityHousehold Consumption
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