Study On The Influence Of Basic Medical Insurance On Residents' Consumption In Urban And Rural Areas In China

The "Government Work Report" in 2018 once again stated that "we must focus on improving people's livelihood to expand consumer demand.We must continue to increase financial subsidy for medical insurance for urban and rural residents and reduce the proportion of 'five social insurance and one housing fund' contributions to increase residents' spending power." Social security impact on China's resident consumption The role has not only received sufficient attention from the academic community,but has also received the attention of the party and the government.The formation of a mode of economic growth that promotes domestic demand is still the main theme of China's economic construction in the coming period.The construction of the social security system is the basic measure to expand the consumer demand,stimulate the growth of domestic demand and realize the integration of urban and rural areas.Basic medical insurance,as an important part of the social security system,has important theoretical and practical implications for studying its impact on urban and rural residents' consumption.The structure of this paper is as follows:First,from the theoretical perspective,based on the analysis of related consumption theories,the mechanism of medical insurance's impact on residents' consumption is analyzed:on the one hand,medical insurance can reduce the uncertainty of residents' future expenditure,reduce the precautionary savings of residents,and increase consumption;on the other hand,medical insurance increases the marginal consumption propensity of society and increases overall consumption by regulating income redistribution.Provide theoretical support for the following discussion.Second,we use macro data to analyze the current status of China's basic medical insurance and residents' consumption.Since the reform and opening up,China's overall consumption level and per capita medical and health care expenditures have increased rapidly.The reform of the medical insurance system has been continuously promoted and the level of protection has been continuously improved.However,many problems remain.Divided medical insurance systems are not only fair but also detrimental to efficiency.The gap between medical consumer spending is still obvious,and the medical burden on residents is still heavy.Again,using the panel data of 31 provinces in China from 2002 to 2015,we used the random effects model and quantile regression to empirically analyze the impact of China's basic medical insurance on urban and rural residents' consumption.The main conclusions are:1.Basic medical care in China Insurance has a positive effect on the consumption of urban and rural residents,but it has not reached a significant level of improvement;2.Different medical insurance has a different impact on urban and rural residents' consumption.The new rural cooperative medical insurance has a greater role in stimulating consumption of rural residents than urban employees' medical insurance and urban residents' medical insurance;3.The quantile regression results show that,at different levels of consumption,the impact of medical insurance on consumer spending is heterogeneous.The urban employees' medical insurance plays a greater role in promoting consumption at the high quintile.The urban residents' medical insurance has a more stimulating effect on consumption at the medium and high quintile.The new rural cooperative medical insurance has a greater effect on consumption at the middle quintile.Finally,the paper puts forward corresponding countermeasures and suggestions based on the status quo and empirical analysis conclusions:increase medical insurance protection,scientifically adjust compensation plan;improve the efficiency of medical insurance fund operation,increase fund expenditure appropriately;reduce the proportion of residents' medical insurance payment,increase disposable income of residents;Continue to promote the integration of urban and rural medical insurance systems to promote the integration of urban and rural development.The innovations of this article include:This article has always adopted the comparison of three kinds of medical insurance and the comparison between urban and rural areas to explore the impact of China's medical insurance on urban and rural residents' consumption.Taking into account the right bias of consumer spending,this paper further adopts the points based on the mean value regression.The number of regressions explores whether the impact of medical insurance on resident consumption at different levels of consumption is heterogeneous.