Research On The Influence Of New Rural Social Endowment Insurance On Rural Household Consumption

In recent years,China's increasingly harsh international trade environment has made it all the more important to rely on the domestic market to promote the healthy and stable development of the economy by expanding domestic demand.However,the actual situation is that China's resident consumption rate is still low,especially rural residents.Due to the unstable income and unsound pension system,many factors have limited the enthusiasm of rural residents to consume.The new rural social endowment insurance,referred to as the new rural insurance,is a social pension security system specifically targeted at rural residents.Since it was first introduced,it has assumed the mission of ensuring the lives of rural elderly and expanding domestic demand.In the specific implementation,whether the new rural insurance fully play its due role is worth studying.This paper starts from the actual characteristics of China's rural family income and consumption,and based on the theory of life cycle consumption,points out the impact mechanism of the new rural social security system on rural household consumption.Using data from 2011 and 2013 in China Health and Retirement Longitudinal Study(CHARLS),combined with the PSM-DID,empirical analysis of the net effect of the new rural insurance on the impact of rural household consumption,and the establishment of a micro-panel model,focusing on the dual effects of the new rural insurance on household consumption in the payment stage.The empirical results show that:(1)The implementation of the new rural insurance has played a catalytic role in rural household consumption in China.Among them,for families whose spouses are both above the age of 60,they receive a pension for new farmers,which increases the family's permanent income and raises the level of household consumption.For households that are at the stage of contributory payment,the new rural insurance for household consumption The net effect is positive.(2)The new effect of the new rural insurance on the family consumption of participating in the new rural insurance is significant,and there are differences in the household consumption of household heads in different age groups.