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China Agricultural Economic Review
ISSN: 1756-137X
Online from: 2009
Subject Area: Economics
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The effects of medical insurance on durables consumption in rural China
| Title: | The effects of medical insurance on durables consumption in rural China |
|---|---|
| Author(s): | Meiling Ying, (School of Economics, Southwestern University of Finance and Economics, Chengdu, China), Zaichao Du, (Research Institute of Economics and Management, Southwestern University of Finance and Economics, Chengdu, China) |
| Citation: | Meiling Ying, Zaichao Du, (2012) "The effects of medical insurance on durables consumption in rural China", China Agricultural Economic Review, Vol. 4 Iss: 2, pp.176 - 187 |
| Keywords: | China, Consumer behaviour, Durables consumption, Medical insurance, Panel binary choice model, Rural regions |
| Article type: | Research paper |
| DOI: | 10.1108/17561371211224764 (Permanent URL) |
| Publisher: | Emerald Group Publishing Limited |
| Acknowledgements: | JEL classification – C23, D12, E21. The authors would like to thank the Guest Editor, Professor Yanling Wang and an anonymous referee for their helpful comments but take responsibility for all errors. Zaichao Du's research is funded by Western and Border Areas Program, Humanities and Social Sciences, Ministry of Education of China, 11XJC790002 and 211 Project for Southwestern University of Finance and Economics (3rd phase), 211QN10085. |
| Abstract: | Purpose – The New Rural Cooperative Medical Scheme (NRCMS), implemented in China since 2003, has greatly increased the access of the poor to health services and alleviated the hardship caused by catastrophic medical payments. Both the precautionary saving theory and the Buffer-Stock saving theory would predict a positive effect of this event on consumption. The purpose of this paper is to empirically study the effects of medical insurance on durables consumption in rural China. Design/methodology/approach – Using China Health and Nutrition Survey (CHNS) data, the authors study the effects of medical insurance on durable goods consumption in rural China through a panel binary choice model. Findings – It is found that households with medical insurance have a significantly higher level of durables consumption, and their probabilities of purchasing durables increase by 2.0 per cent-4.4 per cent, which support the precautionary saving theory and the Buffer-Stock saving theory. Originality/value – Unlike previous studies, the authors focus on the effects of medical insurance on the consumption of durables, which have a big weight in household wealth and are more sensitive to income uncertainty. |
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