Study On The Impact Of Endowment Insurance On The Consumption Of Migrant Population

The huge migrant population,which had made important contributions to the economic development of developed regions and cities,is a consumer group worthy of attention under the severe domestic and international situation.Improving its consumption level and quality is not only the basic content of people's livelihood security and development,but also can give full play to the role of consumption in economic development.As an important measure to solve the aging problem,the endowment insurance plays an important role in ensuring people's old age life,reducing the early savings for the old age when they are young,and promoting consumption.In view of the controversial impact of endowment insurance on consumption and the particularity of the migrant population,this paper conducted an empirical study on this issue with the help of the dynamic monitoring data of the migrant population in 2016.On the basis of reviewing domestic and foreign research literature and combining with the status quo of China's endowment insurance system and the consumption of migrant population,this paper analyzed the influence mechanism of China's current endowment insurance system on the consumption of migrant population,which provided a theoretical basis for the empirical analysis in the following paper.In the process of empirical analysis,firstly,a systematic descriptive analysis was conducted on the basic characteristics of the samples,and then an OLS(ordinary least squares)regression model was established based on the basic model of theoretical analysis.The study found that attending basic endowment insurance can make the consumption increase about 2.0% of the migrant population,after detailed analysis found that attending endowment insurance for urban workers can make the consumption increase about 3.5% of the migrant population,However,participate in the endowment insurance for urban and rural residents had no significant impact on the consumption of the migrant population.After the correction with the PSM propensity score matching method,the impact direction was basically consistent with the OLS regression estimation results,which was tested by robustness.However,the OLS regression estimation slightly underestimated the impact of basic endowment insurance on the consumption of migrant population,and overestimated the impact of the urban workers' endowment insurance on the consumption of migrant population.In order to further ensure the endowment security rights of the migrant population and stimulate the huge consumption potential of the migrant population,the following suggestions were put forward according to the results of data analysis :(1)to improve the endowment insurance coverage of urban workers;(2)to increase publicity and improve the incentive mechanism of the endowment insurance system for urban and rural residents;(3)to ensure the universality of basic public services in the places of inflow;(4)to raise the income level of migrant population groups;(5)to improve the supporting policies for the migrant population to have a second child.