摘要
在一个世代交叠的内生经济增长框架内分析了财产险和人身险促进经济增长的机制。研究发现,保险中介在跨时平滑行为主体面临的生产率风险和疾病风险冲击的同时,减少了行为人的流动性资产持有,提高了行为人的非流动性资产投资。在行为人的储蓄由流动性资产和非流动性资产构成的情况下,保险发展产生储蓄结构效应,而储蓄结构效应导致的非流动性资产投资的相对增加促进了资本和知识的积累,进而形成内生经济增长。基于中国数据的实证检验支持了这一机制。
This paper analyzes the mechanism of which property-life insurance promotes economic growth by constructing an Overlapping Endogenous Growth model.We find that insurance intermediary decreases agent' s holding of liquidity assets and increases agent' s investment in non-liquidity assets when it inter-temporally smooth shocks of productivity risk and disease risk confronting the agent.Where the agent' s saving consists of liquidity and non-liquidity assets,the development of insurance causes a structural effect of saving,and the relative increase of non-liquidity assets caused by the structural effect of saving promotes the accumulation of capital and knowledge,further forms endogenous economic growth.The positive test based on China' s data supports the mechanism.
出处
《当代经济科学》
CSSCI
北大核心
2008年第6期91-97,共7页
Modern Economic Science
关键词
保险发展
生产率风险冲击
疾病风险冲击
储蓄结构效应
内生增长
Insurance development
Shock of productivity risk
Shock of disease risk
Structural effect of saving
Endogenous growth
