Research On The Educational Return Rate Of The New Generation Of Migrant Workers

Education is a long-term plan.Education not only provides high-quality labor force for economic development,but also provides appropriate remuneration for labor force.The reasonable evaluation of educational performance is a very important research field.A healthy and stable education system can not only promote the rapid development of China’s economy,but also effectively improve the income of Chinese residents.In recent years,with the reform of national policies and the transformation of the labor market,the share of the new generation of farmers in the labor market has increased.The new generation of migrant workers has become the main force of China’s economic construction.The high-level education and knowledge reserve have accelerated the construction of China’s new system and narrowed the gap between the rich and the poor in urban and rural areas.The rate of return on education is usually used to evaluate the improvement of personal education level,so as to improve the income level.It is also an important basis for individuals and families to decide education investment.Firstly,on the basis of systematically combing the research methods and results of Chinese and foreign scholars on the rate of return on education,this paper selects CGSS（2017）as the sample of 872 new generation of migrant workers by combining the current situation of rural education in China and the survey data in line with China’s national conditions.This paper discusses the educational return rate of the new generation of migrant workers in China in 2016 and the difference of educational return rate under different genders.Secondly,the basic and extended Mincer income equations are selected as the basic models to conduct regression analysis on the educational return rate of the samples,and the heterogeneity analysis is made on the whole sample groups according to gender,political status and other conditions.Then,Hausman test is used to test the endogeneity of the model,and the robustness of the model is tested by substitution variable method,sample reduction method and propensity score matching（PSM）.Finally,the mediating effect model is used to explore the influence mechanism between education promotion and income improvement.The results are as follows: first,the average return on education estimated by using Mincer’s income expansion equation is 9.53%.After sample processing,the average educational return rate of males is 11.12%,that of females is 7.76%.The average educational return rate of party members is 15.68%,and that of non-party members is9.50%.These results indicate that there is heterogeneity in educational return rate.Second,in the robustness test,the return rate of education estimated by the substitution variable method is 9.7%,the return rate of education estimated by the narrowing sample method is 9.05%,the return rate of education estimated by the 0.5 quantile regression is9.45%,and the return rate of education estimated by the propensity score matching method is 10.82%,which indicates that the basic model is robust.Thirdly,social status is an influencing medium of income affected by years of education,and the contribution rate of the mediating effect accounts for 27.64% of the total contribution rate of income affected by years of education.