Research On The Operational Efficiency Of Basic Old-age Insurance System For Urban Workers In China Based On DEA-Tobit

Fully grasping the system operation efficiency and influencing factors of the basic endowment insurance for urban workers is conducive to effectively reducing the financial risk pressure faced by the basic endowment insurance for urban workers in China,the path of optimizing the system reform,and realizing the benign development of the system.This paper mainly studies the operation efficiency of the basic Endowment insurance system for urban workers in China from two aspects,such as the efficiency of Pension Insurance Fund collection and the utilization Efficiency of endowment Insurance Fund.Taking the 31 provinces,municipalities and autonomous regions of China except Hong Kong,Macao and Taiwan as samples in 2017,this paper analyzes the gap of income and expenditure of the Basic Endowment Insurance fund for Urban workers,the efficiency of the system operation and its influencing factors.Based on the funds of the basic old-age insurance for urban workers in each region in the 2017,it is found that 20 regions have the imbalance of fund income and expenditure,and the comparison between 2017 and 2015 shows that there is a large increase in the current fund gap in many regions.Using Data Envelope Analysis Method(DEA)to calculate the operating efficiency of the system,the results show that the overall level of fund collection efficiency of basic endowment insurance for urban workers in China is not high and the imbalance between regions is widespread,and the overall level of utilization efficiency of endowment Insurance Fund is not high and the difference between regions is large.The coordination of Fund collection Efficiency and fund utilization efficiency is not high.Using Tobit regression model to study and analyze the influencing factors of the operation efficiency of urban workers ' basic endowment insurance,the results show that there is a significant positive correlation between regional gross value,population density,actual contribution rate and coverage rate of endowment Insurance and fund levy efficiency.There is a significant positive correlation between regional GDP and system support ratio and the utilization Efficiency of endowment Insurance Fund.In order to further improve the operation efficiency of the basic Endowment insurance system for urban workers in China,this paper makes a further comprehensive analysis of the DEA results and the regression results of Tobit,and puts forward five policy suggestions based on the conclusion of empirical research: first,improve the levy system of tax departments,and second,speed up the reform of provincial overall education and deepening of endowment insurance;Third,optimize the implementation plan of the central transfer system of the Basic Endowment Insurance fund for urban workers;and to broaden the financing and investment channels of the basic Endowment Insurance fund for Urban workers;and the other,to promote steady economic growth and coordinated regional development.