Study On The Welfare Effect Of New Rural Old-Age Insurance On Rural Residents In China

In recent years,with the rapid expansion of China's economy,the level of urbanization is also gradually improving,rural residents have presented serious problems of population aging and "empty nesting".The emergence of such problems will lead to a double decline in the quality of "material life" and "spiritual life" of rural residents.In 2009,the state implemented the new rural old-age insurance.The new rural old-age insurance is a very meaningful social security system for rural residents.In-depth study of the welfare effect of the new rural insurance policy on rural residents can not only explore the effect of the implementation of the policy and provide relevant suggestions for the follow-up development of the new rural insurance system,but also benefit to the stable and healthy development of rural residents and even the whole country.This thesis explores the comprehensive welfare effects of the new rural old-age insurance on rural residents from both objective economy and subjective psychology.Firstly,the new rural insurance policy is interpreted in detail,and the overall income and consumption level of rural residents are analyzed in order to grasp the economic development of rural residents in general.Secondly,macro-data and micro-data of CHARLS in 2015 are selected to construct random effect model based on life cycle theory and quantile regression model respectively,comprehensive analysis of the objective economic welfare effects of the new rural social security system on rural residents.Finally,based on the CHARLS micro-data in 2013 and 2015,a breakpoint regression model is constructed to study the subjective psychological welfare effects of the new rural insurance on rural residents.The results show that:firstly,the biggest difference between the new rural insurance and the old rural insurance is financing channels and payment accounts,and the government has increased its support for the new rural insurance;secondly,the per capita disposable income of rural residents in China shows an upward trend year by year,but the per capita consumption expenditure has not increased gradually before 2009.On the whole,the income and consumption of rural residents are at a lower level.At that time,the consumption structure gradually shifted from the life-necessary consumption to the hedonic consumption,but the life-necessary consumption still dominated.Thirdly,from the macro-data point of view,the expenditure of the new rural old-age insurance fund can promote the consumption of rural residents.From the micro-data point of view,the coverage rate of the new rural old-age insurance has a significant positive impact on the consumption of rural residents,but the impact on different levels of consumption is different.At the same time,the impact on consumption of people over 60 years old is greater than that of people under 60 years old.Generally speaking,the new rural old-age insurance has brought significant objective economic welfare effects to rural residents.Fourthly,the new rural old-age insurance has significantly improved the overall life satisfaction of rural residents,but has no significant impact on their depression level.Generally speaking,the new rural social security system also brings about certain subjective psychological welfare effects.