Inclusive Insurance, Income Distribution, and Inclusive Growth

Financial inclusion, whereby all adults have effective access to financial products, including insurance, has increasingly become a global priority, particularly in low and middle income economies. This study matches the measured development level of inclusive insurance in Chinese provinces with Chi...

Full description

Saved in:
Bibliographic Details
Published in:Frontiers in public health 2022-04, Vol.10, p.890507-890507
Main Authors: Zheng, Lili, Su, Ya
Format: Article
Language:English
Subjects:
balanced development
China
Family Characteristics
inclusive finance
inclusive growth
inclusive insurance
Income
income distribution
Insurance, Health
Poverty
Public Health
urban-rural dualistic economic structure
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Financial inclusion, whereby all adults have effective access to financial products, including insurance, has increasingly become a global priority, particularly in low and middle income economies. This study matches the measured development level of inclusive insurance in Chinese provinces with China Family Panel Studies (CFPS) data and evaluates the impact of inclusive insurance on income distribution and inclusive growth. The findings support that inclusive insurance has a positive impact on income distribution and inclusive growth. The effect is more pronounced in eastern areas, rural areas and low-income households. The policy shocks and instrumental variables introduced prove the robustness of the results. PSM-DID test indicate that the inclusive insurance policy has a significant positive effect on income distribution. Alternative measure of inclusive insurance and GMM test with instrumental variables indicate that the results are robust. Additionally, we also find that there is a threshold effect on the impact of the inclusive insurance on income. When the universal insurance index exceeds the threshold value, the promoting effect on income is enhanced.
ISSN:2296-2565
2296-2565
DOI:10.3389/fpubh.2022.890507