The Effect of Financial Transfer Payment on Rural Livelihood Resilience:Promoting or Restraining
The common prosperity for farmers and rural areas is the difficulty and key point to achieve the common prosperity of all people,and improving the rural livelihood resilience provides new ideas for achieving this goal smoothly.This study uses China Family Panel Studies dataset from 2014 to 2020 to construct a livelihood resilience indicator based on the sustainable livelihood framework combing with psychological capital.Based on this indicator,this study explores the mechanism of financial transfer payment affecting the livelihood resilience of rural households from two aspects:livelihood factor mobility and livelihood strategy diversity.The results show that livelihood resilience is heterogeneous in different entities,regions,and years.From 2014 to 2020,the livelihood resilience of rural households increased year by year,but the livelihood resilience of low-income households,low-and middle-income rural households,and rural households in the northeast and west regions was still low.Financial transfer payment is conducive to the accumulation of livelihood capital of rural households,but this accumulation is still limited by the subsistence capital which meets the basic production and living requirements of rural households,such as material capital and natural capital.Livelihood factor mobility and livelihood strategy diversity are two mechanisms through which financial transfer payment affects livelihood resilience.However,the improvement of village cash subsidy expenditure restricts the improvement of livelihood resilience of rural households due to the nature of limited grassroots financial funds and the different benefit scopes of different financial funds.This study indicates that constructing a long-term dynamic mechanism of financial transfer payment,promoting financial transfer payment to play a positive incentive effect on rural livelihood activities,and taking into account the financial sustainability at the grassroots level are essential to achieve the common prosperity for farmers and rural areas.
Financial Transfer PaymentLivelihood ResilienceCommon ProsperityLivelihood CapitalLivelihood Strategy
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