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Precautionary motivation and consumption insurance: Empirical analysis of household consumption behavior in rural China

Author

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  • LUO Chuliang

    (Institute of Economics, Chinese Academy of Social Sciences, Beijing 100836, China)

Abstract

Based on a household survey in rural China, this paper discusses parameters such as precautionary motive, excess sensitivity, consumption insurance,and inter-temporal substitution in the household consumption function in rural China. The conclusions of the paper indicate that there is a significant precautionary motive in household consumption in rural China, but the function of consumption insurance is very limited, and the consumption is also excessively sensitive to the income change. Such parameters are different among consumers within different groups.

Suggested Citation

  • LUO Chuliang, 2007. "Precautionary motivation and consumption insurance: Empirical analysis of household consumption behavior in rural China," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 2(1), pages 137-150, March.
    • Handle: RePEc:fec:journl:v:2:y:2007:i:1:p:137-150
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    File URL: http://journal.hep.com.cn/fec/EN/10.1007/s11459-007-0007-z
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    Citations

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    Cited by:

    1. Narayan, Paresh Kumar & Narayan, Seema & Smyth, Russell, 2009. "Understanding the inflation-output nexus for China," China Economic Review, Elsevier, vol. 20(1), pages 82-90, March.

    More about this item

    Keywords

    rural China; precautionary motive; excess sensitivity; consumption insurance;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • D1 - Microeconomics - - Household Behavior
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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