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The Impact of the Social Insurance System on Chinese Adults’ Subjective Well-Being

  • Jing Guan , Jingyu Zhang and Wei Zheng EMAIL logo
Published/Copyright: August 15, 2024

Abstract

Previous studies have shown that a single social insurance project may improve subjective well-being. Yet, the effect of the overall social insurance system and the underlying mechanism are unknown. This study investigates the impact of the social insurance system on individuals’ subjective well-being and the impact mechanisms using the China Family Panel Studies (CFPS) conducted in four consecutive waves (2014, 2016, 2018, 2020). By applying the structural equation modeling approach, we construct a focused longitudinal path model and find that the social insurance system has a direct positive effect on individuals’ subjective well-being, measured by life satisfaction and job satisfaction. We explored three longitudinal mediation patterns including self-rated health, household income, and trust in the government, however, none of them are significant mediators. Through subgroup analysis, it is found that the male group and the age over 60 group benefit more from the social insurance system regarding life satisfaction improvement.


Corresponding author: Prof. Wei Zheng, School of Economics, Peking University, Beijing 100871, China; and China Center for Insurance and Social Security Research (CCISSR), Peking University, Beijing, China, E-mail: 

Jing Guan and Jingyu Zhang contributed equally as first authors.


Funding source: General Social Science Project of the Beijing Municipal Education Commission

Award Identifier / Grant number: SM202410011007

  1. Research funding: This work was supported by the General Social Science Project of the Beijing Municipal Education Commission [number SM202410011007].

  2. Conflict of interests: The authors report no conflict of interest.

  3. Data availability: The data that support the findings of this study are openly available at [http://www.isss.pku.edu.cn/cfps/en/data/public/index.htm].

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Received: 2024-07-11
Accepted: 2024-08-03
Published Online: 2024-08-15

© 2024 Walter de Gruyter GmbH, Berlin/Boston

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