The Influence Of Health Status On The Rural Household Portfolio

Over the past few decades,with the continuous development of the economy,the level of wealth of Chinese families has also increased significantly.According to the “China Family Wealth Survey Report”,the per capita wealth of urban families in 2016 was 240,000 yuan,which was 3.13 times the per capita wealth of rural households.It found that the wealth portfolio of high-income families is diversified,while the low-and middle-income families are relatively single,so that a single household portfolio model is not conducive to household asset appreciation.In addition,the gap between the rich and the poor in rural areas is more serious than in urban areas.A correct understanding of the problem of rural household asset portfolio in China is conducive to rational use of funds by rural residents,raising the wealth level of rural residents,and shortening the gap between rich and poor in rural areas.However,domestic attention to rural household asset portfolios is far less than the attention paid to urban household asset portfolios.In recent years,many studies have analyzed family assets from different perspectives.Health status is also an important factor that influences the choice of residents' household portfolios.This article uses the 2013 China Health and Retirement Longitudinal Study(CHARLS)data to first statistically analyze the status of rural household asset portfolios.Based on this,Poisson regression model and multiple linear regression model are used to empirically study the health status and rural areas.The influence of household asset portfolio diversity was tested using objective health indicators.The impact of health status on the number of household assets in households was further analyzed.Robustness tests were conducted using the propensity score matching method.The following conclusions were obtained:(1)From the descriptive statistics.In terms of household portfolio diversity,Rural households with subjective healthy heads have a higher degree of household portfolio diversity than rural households with subjective unhealthy heads.Regarding the number of household assets,the head of household with subjective healthy have the higher financial assets,durable consumer assets,productive fixed assets,and the land value than subjective unhealthy rural households,while the value of real estate was the opposite.(2)Health status has a significant impact on rural household portfolio diversity.Rural households with healthy heads has more diversified household assets than households with unhealthy household heads,and their household portfolios are more diverse.The robustness test using the objective health indicators to measure the health status of the head of the household showed that the health status still had a significant impact on the rural household asset diversity portfolio and the conclusion is robust.(3)The health status has a significant impact on the number of rural household assets.Rural households with subjective healthy heads have higher financial assets,productive fixed assets,durable consumer assets and land values than rural households with subjective unhealthy heads,but the real estate value is less than the latter.Robustness tests using propensity score matching methods show that subjective health still has a significant impact on household household assets,and the conclusion is robust.