The Theoretical Foundations and Impacts of Inclusive Insurance in Promoting Common Prosperity—Based on Chinese County-level Data
Common prosperity is a fundamental goal of socialism,and inclusive insurance emerges as a pivotal mechanism in at-taining this goal by acting as both an economic shock absorber and a societal stabilizer.This study employs county-level data from China to examine the influence of inclusive insurance on common prosperity empirically.The findings reveal that inclusive insurance plays a significant role in elevating common prosperity levels and narrowing the income disparity within urban areas,rural locales,and across the urban-rural divide,contributing to a reduction in both regional income gaps and income inequality.Notably,the research indicates that the impact of inclusive insurance is more pronounced in rural regions,enhancing common prosperity to a greater extent.Through mediation effect analysis,it is evident that inclusive insurance fosters economic growth and augments social welfare,thereby facilitating common pros-perity.The heterogeneity analysis further highlights the varying effects of inclusive insurance on the average incomes of urban and rural popu-lations across different regions.In response to these findings,the study proposes policy recommendations focusing on three areas:bolstering the income redistribution function,enhancing the inclusiveness of insurance,and maximizing its role in risk management.
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