Analysis Of Long-term Linkage Effect Of Pension Insurance And Economic Growth Based On VAR Model

As an important part of the social security system,endowment insurance is also closely related to income distribution and economic development.The implementation and development level of the endowment insurance system can change the optimal decision of an actor by changing his or her lifetime budget constraints or attitudes to the risks faced.Especially in the process of vigorously developing the construction of the social security system in China and promoting the steady and orderly development of the endowment insurance,research on the social utility and economic value of endowment insurance is increasing.On the basis of reviewing the research of relevant scholars at home and abroad,this article reviews the development status of China's endowment insurance system from the basic concepts and basic theories.The current situation of the development of the pension insurance system is described in terms of system coverage,operating mechanism,management policy,and operation channels of pension insurance funds.At the level of empirical analysis,the vector autoregressive model(VAR)is used to analyze the two time series variables of pension insurance and economic growth,which further proves the long-term linkage effect of pension insurance and economic growth.Finally,the article also puts forward relevant suggestions for improving the development level of the endowment insurance system and promoting economic growth,which has corresponding value for promoting the construction of China's endowment insurance system and promoting economic growth.Taken together,the research in this paper draws the following conclusions: 1)Endowment insurance and economic growth have a long-term interactive relationship.The operation of the endowment insurance system releases economic growth effects through savings,and continuous economic growth can increase social security expenditure levels and promote Expansion of social security resources;2)The impact of endowment insurance on economic growth is also related to other factors in the region.Employment and the level of per capita income of residents are important factors.3)Improving the development level of endowment insurance needs to be carried out from multiple levels such as institutional policies and markets.Attention is paid to the important value of economic growth for the development of endowment insurance.