Research On The Influence Of Social Basic Medical Insurance On Household Consumption In China

At present,China’s domestic supply and demand contradiction,international trade friction is serious,and there is a situation of insufficient consumption of residents,high savings rate,the government will focus on how to consumption and reduce the savings rate.As a part of social security,social medical insurance system can reduce the uncertain expenditure of residents and reduce their private savings.Therefore,this article takes the basic medical insurance as the breakthrough point,analyzes its influence to the resident consumption.After combing the theoretical basis of influencing consumption,this paper analyzes the current situation of basic medical insurance and residents’ consumption in China.After decades of development,China’s medical insurance system has basically achieved universal coverage,but the average consumption of residents is still at a low level.By analyzing the consumption rate of residents in other countries,combined with the average consumption tendency,Engel coefficient and health care expenditure index,this paper finds that although the consumption potential of residents in China is huge,it has not been completely released.This paper uses the data of China Family tracking Survey(CFPS)2014-2018,first carries on the mixed regression,the fixed effect and the random effect,after passing the Hausman test,selects the fixed effect model to analyze the basic medical insurance to the resident family consumption overall influence;secondly,this paper uses the Logit model to analyze the resident participation basic medical insurance influence factor,reduces the multidimensional variable which affects the resident participation one-dimensional medical insurance to the variable,and calculates the tendency score factor;Again,this paper divides the selected samples into two groups,the processing group is the family that participates in the basic medical insurance,the control group is the family that does not participate in the basic medical insurance,the tendency score matching method(PSM)is used to match the nearest neighbor,caliper matching,and the matching effect is diagnosed by the common support and balance test.Through the empirical test of basic medical insurance and household consumption,this paper draws the following conclusions :(1)the medical insurance system promotes the improvement of residents’ consumption level,and its influence on household non-medical consumption expenditure is more significant;(2)the basic medical insurance has more power to improve the consumption level of urban residents and has no significant effect on the consumption level of rural residents;(3)Because the regional economic development of our country is not consistent,and the "fragmentation" characteristics existing in the medical insurance system of our country further widen the difference between the consumption level of residents,the medical insurance system stimulates the consumption level of residents in the central and eastern regions more strongly than in the western region,both of which are significant at the statistical level of 1 percent.