Based on the household survey data of 734 relocated migrants in Guizhou Province, this study selects 17 indicators from five major livelihood capitals, namely, natural capital, physical capital, financial capital, human capital and social capital, to construct a livelihood capital evaluation index system for relocated migrants. Using the system, we evaluate the dynamic change of migrants’ livelihood capital in the relocation project for poverty alleviation, to analyze the mechanism of the impact of the livelihood capital on the selection of livelihood strategies. The results show that, 1) Different types of resettlement sites lead differences in the changes of livelihood capital of immigrant families in the process of poverty alleviation and relocation. Among them, the improvement effect of the livelihood capital of the immigrants in the county settlement is the most obvious. From 2019 to 2022, the number of immigrant families with better and above levels of livelihood capital increased by 55.04%; 2) Social capital is the largest contribution dimension affecting the comprehensive change of livelihood capital, with a minimum impact of 38.87%; natural capital and material capital are the biggest obstacle dimensions, with the highest impact of 12.78% and 6.71%, respectively, and are also the factors that migrants need to pay attention to and take into account when they choose their livelihood strategies. 3) According to the characteristics of livelihood strategy type transformation and the difference of per capita income of immigrant families, it is found that the livelihood strategies adopted by migrants in the market town lead to the fastest growth in their per capita income, which reaches 59.05%, while the overall improvement of migrants’ families in the county town is more stable. Accordingly, the paper puts forward some optimization countermeasures, such as increasing the protection of cultivated land in central villages, promoting the consumption of migrants in market towns, strengthening the management of livelihood capital of migrants in county towns. 

livelihood capital, livelihood strategy, poverty alleviation and relocation, dynamic evaluation, path optimization, Guizhou Province 

基于贵州省734份搬迁移民入户调查数据, 从自然资本、物质资本、金融资本、人力资本和社会资本五大生计资本中选取17个指标, 构建搬迁移民生计资本评价指标体系, 用于评价易地扶贫搬迁工程中移民生计资本的动态变化, 探析生计资本对生计策略选择的影响机理。研究结果表明, 1) 易地扶贫搬迁过程中, 不同安置点类型移民家庭生计资本的变化有差异, 其中县城安置点移民生计资本的改善效果最明显, 2019—2022年生计资本达到较好及以上水平的移民家庭增加55.04%; 2) 社会资本是影响生计资本综合变化的最大贡献维度(最低影响幅度为38.87%), 自然资本和物质资本是最大障碍维度(最高影响幅度分别为12.78%和6.71%), 也是移民进行生计策略选择时需重点关注和考虑的维度; 3) 根据生计策略类型转变特征以及移民家庭人均经济收入的差异, 发现集镇安置点移民家庭人均收入的增长幅度最大, 达到59.05%, 县城安置点移民家庭整体改善效果则更为扎实和稳定。据此, 针对性地提出加大中心村耕地保护、促进集镇移民消费和加强县城移民生计资本管理等生计策略优化对策。