摘要
Based on the micro-panel data of China Health and Retirement Longitudinal Study(CHARLS)from2008 to 2012,this paper estimates the dynamic path of asset accumulation to test the existence of a poverty trap in rural China.The results show that the proportion of households escaping poverty through asset accumulation is higher than the proportion of those declining into poverty through asset depletion.The estimated dynamic asset accumulation paths display the concavity and assets converge to a stable equilibrium.It means that there is no evidence for multiple equilibria poverty trap in rural China.The variables of household characteristics and geographic capital have a significant effect on asset growth.When negative shocks are coming,labour opportunities of community and social capital absorb some negative effects.The increase in access to the financial market has a significant effect on the reduction of capital accumulation's declining.
Based on the micro-panel data of China Health and Retirement Longitudinal Study（CHARLS）from2008 to 2012,this paper estimates the dynamic path of asset accumulation to test the existence of a poverty trap in rural China.The results show that the proportion of households escaping poverty through asset accumulation is higher than the proportion of those declining into poverty through asset depletion.The estimated dynamic asset accumulation paths display the concavity and assets converge to a stable equilibrium.It means that there is no evidence for multiple equilibria poverty trap in rural China.The variables of household characteristics and geographic capital have a significant effect on asset growth.When negative shocks are coming,labour opportunities of community and social capital absorb some negative effects.The increase in access to the financial market has a significant effect on the reduction of capital accumulation＇s declining.
