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.
Funding source: General Social Science Project of the Beijing Municipal Education Commission
Award Identifier / Grant number: SM202410011007
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Research funding: This work was supported by the General Social Science Project of the Beijing Municipal Education Commission [number SM202410011007].
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Conflict of interests: The authors report no conflict of interest.
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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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Articles in the same Issue
- Frontmatter
- Featured Articles (Research Paper)
- Evaluating the Efficiency of Capital Enhancement and Investment Constraints in Life Insurance Supervision
- The Impact of the Social Insurance System on Chinese Adults’ Subjective Well-Being
- Financial Sustainability of Social Insurance: The Case of Korean Workers’ Compensation Insurance and Possibility of Triple Moral Hazard
- Gaussian Mixture Regression Model with Sparsity for Clustering of Territory Risk in Auto Insurance
Articles in the same Issue
- Frontmatter
- Featured Articles (Research Paper)
- Evaluating the Efficiency of Capital Enhancement and Investment Constraints in Life Insurance Supervision
- The Impact of the Social Insurance System on Chinese Adults’ Subjective Well-Being
- Financial Sustainability of Social Insurance: The Case of Korean Workers’ Compensation Insurance and Possibility of Triple Moral Hazard
- Gaussian Mixture Regression Model with Sparsity for Clustering of Territory Risk in Auto Insurance