| Consumption is an important driving force of economic development,and as a large agricultural country,promoting rural residents to expand consumption expenditure and optimize consumption structure is crucial to the high-quality development of the future economy.At present,the scale and structure of consumption in rural areas lag far behind those in urban areas,and rural residents urgently need to upgrade their consumption.At the same time,as a new type of insurance product with low premiums and moderate coverage,inclusive insurance mainly serves the low-income group represented by farmers,which is conducive to enriching rural insurance resources,providing insurance protection for farmers,and ultimately achieving the purpose of promoting rural residents’ consumption.This paper aims to study the impact of inclusive insurance on the scale and structure of rural residents’ consumption,and provide theoretical support for the development of inclusive insurance and the sustainable upgrading of rural residents’ consumption.This paper interprets consumption upgrading as the growth of per capita consumption expenditure(consumption expansion)and the expansion of the proportion of development and enjoyment-oriented consumption(consumption quality improvement),and uses the panel data of 31 provincial administrative regions in China from 2010 to 2020 as the research subject,focusing on the impact of the development of inclusive insurance on the scale and structure of rural residents’ consumption.Firstly,based on preventive savings theory,financial exclusion theory and economic development theory,the specific transmission mechanism of inclusive insurance affecting the scale and structure of rural residents’ consumption is studied;secondly,an indicator evaluation system is established to quantify the level of inclusive insurance development in each province;finally,a fixed-effects model and a panel threshold model are constructed to analyze the impact of inclusive insurance development on the scale and structure of rural residents’ consumption from an empirical perspective.And the heterogeneity analysis is conducted from different regions in the east,middle and west and different development dimensions of inclusive insurance respectively.The following conclusions are drawn from the study: First,inclusive insurance can directly promote rural residents’ consumption by reducing precautionary savings and alleviating financial exclusion,and indirectly optimize rural residents’ consumption structure through the economic growth effect.Second,the results of the fixed-effect model indicate that the development of inclusive insurance has a significant positive impact on the consumption upgrading of rural residents,but this impact is more reflected in the consumption scale level.Third,the results of the threshold effect model show that when the development of inclusive insurance exceeds a certain level,the positive impact of inclusive insurance on consumption upgrading of rural residents will be significantly enhanced,so that it can better play its role in promoting consumption.This paper proposes the following suggestions for developing inclusive insurance and accelerating consumption upgrading of rural residents: first,the government should provide subsidies for rural residents to purchase inclusive health insurance while promoting policy-based agricultural insurance;second,insurance institutions should not only increase the number of insurance outlets,but also strengthen the promotion of inclusive insurance and improve the efficiency of payout after the occurrence of insurance;finally,the state should focus on strengthening the promotion of inclusive insurance in the central and western regions.Finally,the state should focus on strengthening the promotion of inclusive insurance in the central and western regions,eliminating the financial exclusion phenomenon in the local rural areas,and escorting the development of inclusive insurance. |
