| With the development of China’s economy and society,the living standard of rural residents has been continuously improved.However,the imbalance between urban and rural development and the problem of inadequate rural development still cannot be ignored.Improving rural residents’ well-being is an important measure of national social harmony and stability.The 19 th CPC National Congress put forward the rural revitalization strategy,which calls for improving the happiness of rural residents.As the main social endowment insurance system for rural residents,the basic endowment insurance system for urban and rural residents(hereinafter referred to as "urban and rural residential insurance")plays a crucial role in coping with the aging of population and guaranteeing people’s better life.The starting point of this paper is whether the high level of financial subsidies that accompany the current system can have the desired effect,so it is necessary to explore the impact of the current system on the well-being of rural residents and select a reasonable method to evaluate the effect of the policy,so as to put forward targeted suggestions on the reform of basic endowment insurance for urban and rural residents and effectively improve the well-being of residents.The research idea of this paper is to introduce urban and rural residential insurance as an external variable to explore the impact of such favorable factors on rural residents’ well-being and its mechanism.Firstly,based on the connotation of welfare and related theories,the paper analyzes the institutional changes,mode selection behavior and characteristics of urban and rural residential insurance.From the perspective of welfare economics,the paper analyzes the government’s choice behavior and applicability of the current urban and rural residential insurance mode.Secondly,it proposes the definition and measurement method of well-being,analyzes the welfare of China’s urban and rural residential insurance system from the perspective of fiscal subsidies based on macro data,and proposes hypotheses to test the possible correlation between them and various dimensions of residents’ well-being.Thirdly,the paper analyzes the mechanism of urban and rural residential insurance on residents’ well-being and the influencing factors on residents’ well-being at three levels,and clarifies the connotation of residents’ objective well-being and subjective well-being.This paper illustrates the impact of urban and rural residential insurance on the determinants of well-being,and then analyzes the specific process of its impact on well-being,and discusses the mechanism of the impact of urban and rural housing insurance on residents’ well-being through income level,leisure time and health status.Fourthly,the empirical analysis of the impact of urban and rural residential insurance on the well-being of rural residents was conducted.CHARLS2018 data were used to demonstrate the transmission path of the influencing mechanism and the possible mediation effect in this path,and heterogeneity analysis and robustness test were conducted.Innovation point of this article is mainly in: In-depth study on the mechanism and degree of influence of urban and rural residential insurance on residents’ well-being,classify the influencing factors through mechanism influence,and innovatively classify the factors affecting residents’ well-being into direct influencing factors,indirect influencing factors,and subjective and objective dimensions;It is believed that residents’ well-being is the comprehensive result of the interaction between objective well-being level and subjective cognitive feeling.Combining subjective well-being with objective well-being,the comprehensive measurement idea of residents’ well-being is proposed,and the risk matrix analysis method is innovatively introduced to construct a comprehensive measurement method of residents’ well-being from two dimensions.The paper draws main research conclusions from three aspects,as follows.Firstly,urban and rural residential insurance has a significant impact on improving the well-being of urban and rural residents.Leisure time plays a mediating role in the mechanism of the positive impact of urban and rural residential insurance on the overall well-being of urban and rural residents,and the increase of leisure time brings more objective well-being than the decrease of subjective well-being,thus improving the overall well-being of urban and rural residents.The per capita income level of urban and rural residents only plays a partial mediating effect in the mechanism of positive impact of urban and rural residential insurance on residents’ well-being.Secondly,the mediating effects of income and leisure time on the well-being of urban and rural residents show significant heterogeneity.The impact of urban and rural residential insurance on the income level of rural residents is more significant than that of urban residents,but the impact on the leisure time of urban residents is more significant.Thirdly,there are gender heterogeneity and age heterogeneity in the impact of urban and rural residential insurance on rural residents’ well-being.Urban and rural residential insurance can significantly improve the well-being of rural female residents,but not the well-being of male residents.Urban and rural residential insurance has an overall improvement effect on the well-being of rural residents of different ages,and the improvement effect on the well-being of rural residents aged 60 and above in the period of receiving benefits is more significant than that of rural residents under the age of60.Based on this,this paper puts forward the following suggestions:(1)the financing mechanism and payment level of urban and rural residential insurance should give consideration to fairness and efficiency.Due to high financial subsidies,the urban and rural residential insurance has improved the well-being of the majority of rural residents.However,the efficiency of financial input should be considered to encourage residents to actively participate in the insurance system and give full play to the effect of improving residents’ well-being.(2)policies related to urban and rural residential insurance should be more favorable to rural residents and their pension benefits should be increased.Urban and rural residential insurance has a more significant impact on the income level of rural residents than urban residents,thus significantly affecting the well-being of rural residents.It is suggested to increase fiscal subsidies for basic pension and insurance contributions for rural residents,improve pension benefits for rural residents,and narrow the gap between urban and rural areas.(3)we can try to raise the level of insurance contributions for urban and rural residents.Urban and rural residential insurance has a more significant impact on the leisure time of urban residents than rural residents.It can improve the level of endowment insurance benefits of urban residents by increasing the level of insurance payment,so as to promote the improvement of urban residents’ well-being.(4)policies related to urban and rural residential insurance for urban and rural residents should be more favorable to rural women residents.Urban and rural residential insurance plays a more significant role in improving the well-being of rural female residents than that of male residents.Therefore,the government should formulate differentiated policies related to urban and rural residential insurance to have a more significant role in improving and enhancing the well-being of women,that is,to improve their well-being level more effectively.(5)we should consider raising the pension age for urban and rural residents.Urban and rural residential insurance has an overall improvement effect on the well-being of rural residents of different ages.The government may consider increasing the pension age of urban and rural residential insurance to increase the accumulation of savings funds,improve the benefits received,and reduce the financial burden. |
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