Research On The Impact Of Property Insurance On Economic Growth

Since the reform and opening up,as China's national economy has continued to rise,the insurance industry,one of the major pillars in national finance,is also developing at a high speed.Since the gradual liberalization of the insurance industry in the 1980s,property insurance,as an important branch of insurance,has begun to flourish with the continuous development of the national economy and on the basis of the increasing improvement of infrastructure and the continuous increase in consumer income.Property insurance plays a vital role in the economy in terms of maintaining economic stability and compensation,financing,performing social management as well as several major derivative functions.In particular,it provides a channel for solving the problems of agriculture,rural areas and farmers,which are of great concern to China.It also provides an umbrella for enterprises and residents.In recent years,Anhui's economic strength has been significantly enhanced,Increasing number of enterprises and the income and consumption of urban and rural residents have also increased.Social demand for property insurance has increased,and more requirements have been put forward for the type of property insurance.By the end of 2017,property insurance in Anhui Province had already exceeded life insurance compensation for social and economic compensation.Play A growing role in the exercise of its functions.In this context,whether the vigorous development of property insurance has an impact on Anhui's economic growth,whether it promotes or inhibits it,how it promotes economic growth,and what problems it faces in the process of development.For this purpose,relevant studies will be conducted on the above issues.This paper firstly elaborates theoretically on the relationship between the major functions of property insurance and economic growth and on the aspects in which property insurance can affects economic growth.Secondly,it analyzes the development situation of economy and property insurance in Anhui Province and summarizes problems that hinder the development of property insurance in Anhui.The basic judgment of the relationship between property insurance and economic growth.Thirdly,based on the theoretical analysis,it combines Keynes's theory of effective demand and tries to analyze in terms of consumption,investment and export.We have selected data from 2000 to 2017 and conducted experiments.The result shows that the development of property insurance is the Granger cause of Anhui's economic growth.It shows that the development of property insurance can affect the econo,,mic growth of Anhui.Besides?the result of pulse test shows that the development of property insurance has a positive effect on the macro economy,and it also has certain influence on consumption,investment and export.Then it shows that property insurance can affect the cecononmy through these three ways.Finally,some suggestions are put forward for the problems of the current situation of the development of property insurance to serve the economy of Anhui Province better in Anhui Province in this paper.