The Impact Of New Rural Social Endowment Insurance On Consumers

As an important reform of rural endowment insurance in China, the new type ofrural social endowment insurance can not only help to promote the social securitysystem, but also influence the consumption of the people. Therefore, it is necessary tostudy this effect to make sure the reform to be more effectively.Firstly, literature about the relation between social security and householdconsumption was studied, and different views were collected and classified. About theeffect of pension on household consumption, scholars have three views, being thatendowment insurance promoted consumption, suppressed consumption and unknown.Secondly, the concepts involved and the theoretical basis are defined and analyzed,especially the consumption theory development as well as the factors affectinghousehold consumption. Thus, the theoretical basis is established. Again, theconsumer model is established on the basis of the theoretical model for the specialcase of the new rural social pension insurance. The impact of the new rural socialpension insurance may have on consumer discussion is discussed theoretically.According to the life cycle hypothesis, although the new rural social pensioninsurance ultimately increases the policyholders lifetime earnings, but taking intoaccount the specific circumstances of policy measures and residents of our country,the impact on the overall income of the residents and consumption is uncertain in theshort term, which leads to the final consumer decision-making uncertainty. Finally,through an empirical model, the empirical test based on macro data of cities, didn’tgive determined results. The main reason is that different parts of the data are mixedtogether and it is difficult to obtain effective screening. Then through the introductionof control variables thought to the model and the conclusion is made: the new type ofrural social endowment insurance can promote the consumption.Obtained from the research methods and data, this paper further explore theconsumer behavior model to study consumption influencing factors, so as to betterresponse to actual consumer consumption. The study relied on credit society and―bigdata‖. According to the research results, this paper puts forward the endowmentinsurance system conception according to fund management system, make the ruralendowment insurance more adapt to China’s specific national conditions.