Consumption peer effects among migrants in China

IF 5.6 2区 经济学 Q1 BUSINESS, FINANCE
Xianbo Zhou , Yingming Wu , Yucheng Sun
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引用次数: 0

Abstract

Using a representative sample of Chinese migrants, this paper investigates whether Chinese migrants' consumption is sensitive to the consumption of their peers in the destination area. By exploiting the plausible exogenous variation from peers' health shocks and the rate of first-born boys in the peer group as two instrumental variables, we find that the peer effect on migrants' consumption is positive and significant. The peer effect is stronger among migrants with lower socioeconomic status. The results are robust to a battery of checks. In addition, we confirm that social networks are essential for this peer effect, and we show that social learning and risk-sharing mechanisms play an important role in generating peer effects. Results from social learning channel also show that migrants with more sense of belonging in the destination learn more in consumption from the high-spending peers and learn less from the low-spending peers. Our study stresses the multiplier effect of stimulus policies for migrants’ consumption.
中国流动人口的消费同伴效应
本文利用中国流动人口的代表性样本,考察了中国流动人口的消费是否对目的地地区同龄人的消费敏感。通过利用同伴健康冲击和同龄群体中头生男孩的比率作为两个工具变量,我们发现同伴对流动人口消费的影响是显著的。在社会经济地位较低的移民中,同伴效应更强。其结果经得起一系列的检验。此外,我们证实了社会网络对这种同伴效应至关重要,我们表明社会学习和风险分担机制在产生同伴效应方面发挥了重要作用。社会学习渠道的研究结果也显示,对目的地有归属感的流动人口从高消费同伴那里学习到的东西更多,从低消费同伴那里学习到的东西更少。我们的研究强调刺激政策对流动人口消费的乘数效应。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
7.30
自引率
2.20%
发文量
253
期刊介绍: The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.
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