An Empirical Research into the Relationship between Human Capital and Household Consumption from the Perspective of Household Finance——Survey from CFPS
An Empirical Research into the Relationship between Human Capital and Household Consumption from the Perspective of Household Finance——Survey from CFPS
ZHOU Hong
(School of Economics, Nankai University, Tianjin 300071, China)
Abstract
As the nonproductive investment in household financial activities, the quality of human capital formed by human capital investment is closely connected with household consumption behavior. The research shows that the households with higher human capital level often have higher marginal consumption tendency and stronger wealth effect, especially in terms of expenditures in clothing and entertainment. Improvement of human capital can change consumption behavior mainly by changing objective environment and subjective consumption concept and thus promote consumption.
ZHOU Hong. An Empirical Research into the Relationship between Human Capital and Household Consumption from the Perspective of Household Finance——Survey from CFPS. Economic Survey, 2011, 28(6): 016.
2011, Vol. 28 
