The Impact Of Housing Assets On Household Educational Expenditure Of Urban Family

Over the past 40 years of reform and opening up,the rapid development of economy has driven the growth of urban family income and various consumption expenses in China.It also makes people realize the importance of education in bringing high income for families.Household educational expenditure has become an important part of family consumption which attracted more and more attention.In addition,China is experiencing great changes that have not been seen in a century.While the scientific and technological revolution and industrial reform are developing rapidly,human capital accumulation is becoming more and more important to economic development.The accumulation of human capital depends on education,and household educational expenditure plays an important role in human capital investment.The current researches on the factors of household educational expenditure focus on income,demographic characteristics and demonstration effect,while ignoring the role of housing assets.This paper holds that the change of housing asset value will bring significant fluctuations to family wealth,which may increase household educational expenditure.In order to explore the impact of housing assets on household educational expenditure,this paper uses the fixed effect model based on the panel data of CHFS.This study found that housing assets have a significant promoting effect on family education expenditure,and this promoting effect is heterogeneous.The result shows that the positive effect of housing assets on household educational expenditure is only significant in the eastern region and families with high income level,and the influence coefficient of families with multiple housing assets is greater.Based on the above conclusions,this paper proposes the following suggestions:Firstly,strengthen the construction of the three-level real estate market.Secondly,pay more attention to the education inequality caused by the gap of family resource endowment,and increase the scale of public education expenditure in the central and western regions.Finally,attach great importance to the negative impact of credit constraint on family education expenditure,and provide targeted subsidies for low-income families.