Medical Insurances and Financial Portfolio Choice

Xinxin Ma ()
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Xinxin Ma: Hosei University

Chapter Chapter 9 in Public Medical Insurance Reforms in China, 2022, pp 193-215 from Springer

Abstract: Abstract Using three-wave longitudinal dataLongitudinal data, this study estimates the influence of public medical insurancesPublic medical insurance on financial portfolio choiceFinancial portfolio choice of individuals aged 45 years and older. Three new findings emerge. First, public medical insurance positively affects the probability of holding risky financial assetsHolding risky financial asset, but when addressed the heterogeneity problemHeterogeneity problem, the effect of public medical insurances on the probability of holding and share of risky financial assetsShare of risky financial asset is not significant, which suggests the unobservable individual heterogeneity might affect risky financial market participation. Second, the influence of public medical insurance differs by risky financial asset type. It is greater for higher-risk (stocksStocks) than for lower-risk (bondsBond) financial assets. Third, the influences of public medical insurance differ by age and hukouHukou group, the positive effects are higher for older and urban residentUrban resident group than middle-aged and rural residentRural resident group.

Keywords: Public medical insurance; Financial portfolio; Risky financial asset; Risky financial market participation; China (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-7790-8_9

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DOI: 10.1007/978-981-16-7790-8_9

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