The Impact Of New Rural Insurance On The Consumption Of Rural Residents

In recent years,China's economic growth momentum has gradually shifted from consumption to investment and import and export,and the contribution rate of consumption to GDP growth has increased year by year.Compared with urban consumption,the contribution rate and pulling effect of rural consumption as an important component of final consumption to economic growth continues to decline.How to further enhance the consumer confidence of rural residents and expand domestic demand is a realistic issue of current academic concern.Studies have shown that there are many factors affecting residents' consumption.The social security system can stimulate residents' consumption by influencing residents' disposable income,reducing residents' uncertain expectations,and reducing preventive savings.As a new content of the social security system,the new rural social endowment insurance has a wide coverage and great influence.This research will help us to understand the consumption behavior of rural residents in China in a more comprehensive and detailed manner,so as to improve the new rural social endowment insurance system.Provide policy inspiration for better expanding consumer demand.Based on this,this paper uses the China Comprehensive Social Survey(CGSS)data to estimate the impact of new rural insurance on the total consumption and consumption structure of rural residents by using the least squares method(OLS),and then further examines the heterogeneity of regional,age structure and income level.Based on the policy effect under the factors,the propensity score matching method(PSM)is used to control the endogenous problems caused by sample self-selection,which makes the results more stable.The empirical study using STATA13.1 software shows that in the whole sample,the insured households were 3.7% higher than the uninsured households in total household consumption,and 3.2% higher in the survival consumption,development consumption and enjoyment consumption,respectively.6.8% and 6.7%.From the heterogeneity factor investigation,it is found that the new rural insurance has a positive impact on the total consumption and consumption structure of the rural residents in the central and western regions,and has obvious regional differences.In terms of age structure,the new rural insurance has a certain promotion effect on the total consumption expenditure of the middle-aged and old-age groups,while the impact on the total consumption expenditure of the youth group is not significant.Finally,in terms of income difference,the new rural insurance has a positive impact on the total consumption and consumption structure of rural residents in the low-income group,while the impact on the residents' consumption of the middle-income group and the high-income group is not significant.In addition,although the regression results show that the new rural insurance has a certain degree of promotion to consumption,the estimated coefficient of most models is between 3% and 10%,which means that the policy effect of the new rural insurance is still limited.The results of this paper reveal that the new rural insurance has a positive effect on the total consumption and consumption structure of rural residents.The heterogeneity factor has a greater impact on rural residents,middle-aged and elderly people and low-income families in the central and western regions.There is research.Therefore,the government needs to further expand the coverage of new rural insurance,implement the dynamic adjustment mechanism of the new rural insurance basic pension government subsidy and the development of the national economy,and improve the protection level of the new rural insurance;in the design of the new rural insurance system,Strengthen the top-level design and overall planning,and on the basis of fairness and efficiency,tilt to the poverty-stricken areas,middle-aged and middle-aged groups and low-income groups in the central and western regions,highlight the pertinence and flexibility of the new rural insurance;and finally push forward the “rural revitalization” strategy.In-depth implementation of the “precision poverty alleviation” project consolidates the consumption base of rural residents,promote the steady growth of household income,and simultaneously increase consumption levels.