Research On The Influence Of Female Educational Attainment On Household Savings Rate

China’s savings rate has always been a topic of concern from all walks of life.Excessive savings will not only inhibit the prosperity of the consumer market,which is not conducive to expanding domestic demand,but also reduce the investment enthusiasm of residents,which is not conducive to the development and progress of the financial market.Since 2008,China’s savings rate has shown a downward trend.At the same time,with the advancement of social thought,the concept of equality between men and women has gradually taken root in the hearts of the people,and gender differences have basically disappeared.The continuous improvement of women’s social status has increasingly demonstrated the unique influence of the she economy in China’s consumption and investment markets.The improvement of women’s education level has also gradually increased their voice in household economic decision-making,which in turn has a more and more significant impact on household savings behavior.Based on the realistic background of the high education level and high labor force participation rate of women in my country,this paper takes the unbalanced panel data of the three China Family Tracking Surveys(CFPS)in 2014,2016 and 2018 as samples.When women are unmarried,they belong to their parents’ families and have a weaker voice in decision-making.After marriage,they have an independent family form and have the right to make decisions about family affairs.Therefore,married women are used as the analysis objects,and a fixed-effect model is used to study the education of married women.impact on the household savings rate.At the same time,a robustness test is carried out from multiple dimensions such as endogeneity,the construction method of explained variables,and balanced panel estimation,and the heterogeneity analysis is carried out from the perspective of married women’s employment,family size,and urban and rural households.The results of the study show that the increase in the education level of married women can significantly reduce the household savings rate,and the results pass the robustness test.After the mechanism test,it is found that the improvement of the education level of married women makes them more competitive in the labor market,more employment opportunities,and higher employment quality,and even if they are unemployed,they can obtain better social security,which reduces the family Income uncertainty and the weakening of precautionary saving motives,in turn,reduce household saving rates.In addition,the improvement of education level can also enable married women to meet more highly educated and high social status partners in study and work,and expand family communication and social network.The health and employment risks of married women reduce uncertainty and the motive for precautionary saving.At the same time,in order to maintain the normal functioning of their social network,households need to increase their daily spending,which in turn reduces savings.Further analysis of the impact of women’s education on household income and consumption found that the improvement of married women’s education level not only increased household income,but also increased household consumption.Heterogeneity analysis found that if married women have a job,if they live in a larger family or in a rural family,the increase in their education level will have a more significant negative impact on the household savings rate.Based on the analysis,the article suggests that relevant departments should continue to improve the policy system,so as to promote women’s fairer access to all levels of education,build a high-quality atmosphere conducive to women’s active education in my country,and further improve women’s overall level of education.Women’s employment and equal development,and guide families to make rational savings planning decisions.