Study on the impact of pension insurance national pooling on the collection and management behavior of local governments
Realizing the national pooling of basic pension insurance is an important part of constructing China's multi-level and multi-pillar pension insurance system.Based on provincial panel data from 2012 to 2022,the article takes the central transfer system at the primary stage of national pooling as a quasi-natural experiment to explore the impact of the central transfer system on the local government's collection behavior and the mechanism of its action.The study finds that the central transfer system reduces the intensity of local governments'collection and management of the pension insurance fund,and that after the implementation of the central transfer system,there exists a"pressure-relieving effect"in areas with fund shortfalls,and a"fund revenue-impairing effect"in areas with fund surpluses.In regions with high levels of economic development,low fiscal pressures and low levels of aging,the negative impact of the central transfer system on the intensity of local governments'collection and management is more pronounced.Further analysis shows that the reforms of strict regulation and rate reduction play a moderating effect between the central transfer system and the collection and management behavior of local governments.The conclusions of the study provide empirical evidence for accelerating the realization of national pooling of pension insurance,and offer important insights for enhancing the collection and management and governance capacity of local governments.
pension insurance national poolingcentral transfer systemcollection intensitypressure-relievingfund revenue-impairing
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