The Effect Of Rural Endowment Insurance On Family Consumption

In 2015,the final consumption rate of American,South Korean,Japanese residents is 0.68,0.49,0.57,while China's final consumption rate is only 0.38.The falling consumption rate and depressed consumption phenomenon restrict the growth of the economy.Therefore,to expand domestic demand,stimulating consumption has become the motivation of the economy.On March 5,2016,Premier Li Keqiang in his government work report also put forward to enhance the basic role of consumption and economic growth.However,due to the special dual economic structure between urban and rural areas in China and the consumption of urban residents gradually saturating,rural residents contain the huge consumption potential.But the rural consumption has been in a state of inhibition,one of the important reasons is that it is not a sound social security system in our country.To stimulate the rural consumption potential,as an important content of the endowment insurance of rural social security system by the government attaches great importance.Endowment insurance has played an important role in boosting rural economy.It has been always the focus of academic research.This article use the quantile regression model to explore the consumption effect of endowment insurance of rural household spending from three levels.Through empirical analysis,it is concluded that(1)Compared to the family that did not attend endowment,the endowment insurance plays a promoting role in the family per capita total consumption.(2)Endowment insurance only plays a positive role in promoting family breakdown consumption.Breakdown of other family consumption promoting effect is not obvious.(3)Attending endowment insurance of household consumption income elasticity range between 0.462 and 0.624.For the family that did not attend endowment insurance,the household consumption income elasticity range between 0.534 and 0.526.Whether the family has the endowment insurance or not,the impact of family income on household spending is much higher than other factors.