"Solo Joy"or"Shared Joy":A Quantitative Study of Moderate Competition in the Policy-driven Agricultural Insurance Market
Utilizing provincial panel data from 2008 to 2019,this study quantified the char-acteristics of moderate competition in the agricultural insurance market.The results reveal a sig-nificant"inverted U-shaped"relationship between the level of market competition and the de-velopment of agricultural insurance at the provincial level,with the turning point occurring at an HHI index of approximately 0.5.This finding indicates that the optimal level of competition in provincial agricultural insurance markets tends toward moderate monopolization.Excessive compe-tition and over-monopolization detrimentally affect the development of agricultural insurance by increasing the operational and management costs of insurance institutions and reducing insurance payouts,respectively.Compared with less-developed areas,provinces with higher economic de-velopment levels can tolerate relatively higher degrees of market monopolization.Given the preva-lent issues of rent-seeking and"due premiums"in the current agricultural insurance market,it is recommended that the authority for county-level agricultural insurance bidding be transferred to provincial agricultural insurance regulatory bodies.Additionally,a direct payment mechanism for premium subsidies to provincial insurance branches should be established.
NETL
NSTL
万方数据
