Will People with High Assets Be More Pessimistic Towards the Economic Expectations?

Abstract

The study of economic expectation is conducive to understand the potential unstable factors in China’s economic development. This paper discusses the impact of family assets on residents’ economic expectations from the perspective of social structure. Based on the social structure mechanism, this study adopts the variable of asset scale and the data of China Household Finance Survey (CHFS) in 2011 to analyze the impact of asset scale on people’s economic expectations with the multi-layer logistic model. It is found that the higher the asset scale, the less optimistic the individual's economic expectation is. Besides, this impact is different in regions with different economic development levels. In economically relatively developed regions, asset scale has a significant negative effect on individual economic expectation, while in economically relatively underdeveloped regions, asset scale has no significant impact on individual economic expectation.