"Let It Be"or"Nip It in the Bud":The Impact of Labor Migration on Rural Household Participation in Commercial Insurance
Rural households in China face economic risks that are complex and varied with significant financial vulnerability issues,and rural families have strong motivation to prevent risks.This paper uses data from the China Household Finance Survey(CHFS)for 2015,2017,and 2021 to empirically analyze the impact of rural labor migration on household participation in commercial insurance.The findings indicate that labor migration significantly promotes rural households'participation in commercial insurance.Specifically,labor migration notably enhances the extent of participation in commercial life insurance and commercial health insurance,as well as significantly increases the amount of coverage in various types of commercial insurance for rural households.Mechanism analysis reveals that the income growth and wealth effects resulting from labor migration meet the financial needs of rural households for purchasing insurance to address uncertainties such as health risks,pension risks,and income risks,thereby promoting their participation in commercial insurance.Further investigation finds that the strengthening of kinship networks and the improvement of public service quality effectively mitigates the impact of labor migration on rural households'participation in commercial insurance.This study provides a new perspective for a comprehensive understanding of the factors influencing rural household participation in commercial insurance and offers empirical evidence and policy implications for better preventing and resolving rural household risks and improving their financial resilience.
Labor MigrationCommercial Insurance ParticipationRisk Prevention MotivationKinship NetworkPublic Service Quality
万方数据
