Based On Quantile Regression Analysis Of The Household Consumption Effect Of Rural Endowment Insurance

For a long time, the insufficient consumption demand of residents is an important problem for economy in China. Academic experts put forward some suggestions, such as raising workers’ income and perfecting social security system.Among them, the endowment insurance was given great attention by the government. As the important part of social security, rural residents in China’s social old-age security has been at a lower level.The government has been carried out the new rural endowment insurance from 320 pioneer countysince 2009.Then it was quickly spread across the country.Rural endowment insurance really provide farmers with a relatively stable life safeguard. Whether it can really affect the consumption demand of rural residents, it is worth thinking about.In this paper, the author used the data from the 2010 Chinese General Social Survey to investigate rural endowment insurance’s impact on household consumption effect from micro level.First of all, the literature about the consumption effect of endowment insurance are combed. Then, the empirical research method are introduced.It is included that the advantages of the quantile regression model, the estimation of quantile regression model and test, as well as the expansion and the application of the quantile regression model. For another, the paper investigates that how participating in endowment insurance affect insurance rural household total consumption and Itemized consumption on different consumption level.Also, the household consumption elasticity about two cases that whether to participate in endowment insurance or not are compared. The empirical analysis results show that endowment insurance promoted the rural household consumption. For the majority of consumer project, the endowment insurance do has a positive impact. Endowment insurance for the promotion of rural household consumption elasticity is significant on the whole. Finally, according to the results of the empirical research, targeted policy suggestions are given in consideration of the rural endowment insurance status in China.