An “inverted U-shaped” relationship between agricultural insurance coverage level and agricultural income: from perspective of agricultural industry integration

doi:10.3969/j.issn.1004-1524.20230213

Acta Agriculturae Zhejiangensis ›› 2024, Vol. 36 ›› Issue (1): 225-234.DOI: 10.3969/j.issn.1004-1524.20230213

• Agricultural Economy and Development • Previous Articles

An “inverted U-shaped” relationship between agricultural insurance coverage level and agricultural income: from perspective of agricultural industry integration

WEI Chao¹(), CHEN Shengwei²^,^*(), NIU Hao¹, LI Zheng¹

1. School of Economics and Management, Shandong Agricultural University, Tai’an 271018, Shandong, China
2. School of Economics, Shandong University of Technology, Zibo 255000, Shandong, China

Received:2023-02-22 Online:2024-01-25 Published:2024-02-18

Abstract

Abstract:

Based on the panel data of 30 provinces in China (excluding Hong Kong, Macao, Taiwan and Xizang) from 2008 to 2020, the fixed effect model, Ⅳ-2SLS method and other tools were adopted to explore the impact of agricultural insurance coverage level on agricultural income and its mechanism path. It was found that there was a significant and robust “inverted U-shaped” relationship between the agricultural insurance coverage level and agricultural income, with a turning point value of 83.09% for the agricultural insurance coverage level. The agricultural industry integration played a part of the mesomeric effect in the mechanism of agricultural insurance coverage level promoting agricultural income increase, with the mesomeric effect accounting for 82.24%. Thus, it was proposed to accelerate the innovation of agricultural insurance products and the expansion of insurance liabilities, promote the “addition, upgrading, and expansion” of agricultural insurance, and provide comprehensive risk protection for increasing agricultural income.

Key words: agricultural insurance coverage level, agricultural income, agricultural industry integration

CLC Number:

S-9
F840.66

WEI Chao, CHEN Shengwei, NIU Hao, LI Zheng. An “inverted U-shaped” relationship between agricultural insurance coverage level and agricultural income: from perspective of agricultural industry integration[J]. Acta Agriculturae Zhejiangensis, 2024, 36(1): 225-234.

Figures/Tables 6

Table 1 Comprehensive evaluation system of agricultural industry integration

一级指标 Level Ⅰ indicators	二级指标 Level Ⅱ indicators	性质 Nature
农业产业链延伸 Extension of agricultural industry chain	农副食品加工业营业收入/农林牧渔业总产值 Operating income of agricultural and sideline food processing industry/total output value of agriculture, forestry, animal husbandry and fishery	+
	农村每万人拥有的农林牧渔业法人单位数 Number of legal entities of agriculture, forestry, animal husbandry and fishery per 10 000 persons in rural areas	+
	第一产业总产值/第一产业就业人员数 Total output value of the primary industry/number of employees in the primary industry	+
农业多功能性扩展 Multi-functional expansion	农用化肥使用量/农作物播种总面积 Amount of agricultural chemical fertilizer used/total planting area of crops	-
of agriculture	农药使用量/农作物播种总面积 Pesticide usage/total planting area of crops	-
	温室总面积/第一产业就业人员数 Total greenhouse area/number of employees in the primary industry	+
	水土流失治理和除涝面积/农作物播种总面积 Soil erosion control and waterlogging removal area/total planting area of crops	+
	粮食产量/第一产业就业人员数 Grain output/number of employees in the primary industry	+
农业与服务业融合 Integration of agriculture and service industry	农林牧渔服务业产值/农林牧渔业总产值 Output value of agriculture, forestry, animal husbandry and fishery services/total output value of agriculture, forestry, animal husbandry and fishery	+
	社会消费品乡村零售额/乡村人口数 Rural retail sales of social consumer goods/rural population	+
	公路通车里程数/总人口Road mileage/total population	+

Table 2 Descriptive statistics of variables

变量 Variable	符号 Symbol	最大值 Maximum	最小值 Minimum	均值 Mean	标准差 Standard deviation
农业经营净收入Agricultural operation income	I	9.121	6.380	8.213	0.465
农业保险保障水平Agricultural insurance coverage level	S	1.163	0.004	0.296	0.303
农业产业融合指数Agricultural industry integration index	N	0.463	0.077	0.266	0.066
支农力度Agricultural support	F	2.075	0.042	0.233	0.275
产业结构Industrial structure	T	0.472	0.007	0.180	0.093
自然灾害Natural disaster	R	0.373	0	0.087	0.075
农村固定投资Rural fixed investment	V	1.384	0.005	0.209	0.172
受益率Benefit rate	B	14.934	0	0.276	0.796

Table 3 Benchmark regression results

变量 Variable	回归1 Regression 1	回归2 Regression 2
S	0.637^*** (10.95)	1.607^*** (11.02)
S²	—	-0.967^*** (-7.17)
F	-0.029 (-0.38)	0.238^*** (2.94)
T	-5.509^*** (-8.29)	-4.103^*** (-6.29)
R	-1.183^*** (-7.09)	-0.983^*** (-6.21)
V	0.364^*** (4.09)	0.126 (1.41)
B	0.026^** (1.99)	0.032^** (2.55)
常数项 Constant	8.608^*** (111.01)	8.320^*** (100.32)
n	390	390
R²	0.635	0.681
VIF	1.36	4.55
F值F value	102.59^***	107.79^***
Hausman检验Hausman test	81.66^***	76.91^***

Table 4 Estimation results of endogenous treatment

变量 Variable	回归3 Regression 3	回归4 Regression 4
S	1.732^*** (8.14)	2.883^*** (9.99)
S²	—	-2.061^*** (-8.09)
F	-0.837^*** (-4.07)	0.411^*** (3.02)
T	-3.888^*** (-3.08)	-2.249^** (-2.04)
R	-0.820^*** (-3.07)	-0.699^*** (-3.60)
V	0.023 (0.16)	-0.198^* (-1.81)
B	0.031^** (2.53)	0.039^*** (2.79)
n	390	390
R²	0.269	0.612
F值F value	63.79^***	81.43^***
KP-LM检验KP-LM test	41.068^***	60.745^***
KP-F检验KP-F test	33.586	53.816
Hansen-J检验Hansen-J test	0.565	0.465

Table 5 Robustness test results

变量 Variable	回归5 Regression 5	回归6 Regression 6	回归7 Regression 7	回归8 Regression 8
S	—	—	0.624^*** (12.95)	1.502^*** (10.51)
S²	—	—	—	-0.784^*** (-6.48)
S₁	0.628^*** (8.57)	1.454^*** (12.56)	—	—
$S 12$	—	-0.574^*** (-8.72)	—	—
F	0.108 (1.39)	0.093 (1.33)	—	—
T	-6.181^*** (-8.89)	-5.354^*** (-8.39)	-5.510^*** (-8.30)	-4.361^*** (-6.68)
R	-1.155^*** (-6.54)	-1.012^*** (-6.27)	-1.182^*** (-7.10)	-1.023^*** (-6.41)
V	0.438^*** (4.72)	0.270^*** (3.12)	0.364^*** (4.10)	0.170^* (1.91)
B	0.023 (1.62)	0.023^* (1.81)	0.026^** (1.98)	0.032^** (2.53)
常数项 Constant	8.694^*** (107.72)	8.528^*** (112.61)	8.605^*** (111.70)	8.394^*** (105.09)
n	390	390	390	390
R²	0.595	0.667	0.635	0.673
VIF	1.41	2.24	1.10	4.42
F值	86.72^***	100.98^***	123.38^***	121.68^***
F value
Hausman检验	90.95^***	99.17^***	57.14^***	45.76^***
Hausman test

Table 5 Robustness test results

变量 Variable	回归5 Regression 5	回归6 Regression 6	回归7 Regression 7	回归8 Regression 8
S	—	—	0.624^*** (12.95)	1.502^*** (10.51)
S²	—	—	—	-0.784^*** (-6.48)
S₁	0.628^*** (8.57)	1.454^*** (12.56)	—	—
$S 12$	—	-0.574^*** (-8.72)	—	—
F	0.108 (1.39)	0.093 (1.33)	—	—
T	-6.181^*** (-8.89)	-5.354^*** (-8.39)	-5.510^*** (-8.30)	-4.361^*** (-6.68)
R	-1.155^*** (-6.54)	-1.012^*** (-6.27)	-1.182^*** (-7.10)	-1.023^*** (-6.41)
V	0.438^*** (4.72)	0.270^*** (3.12)	0.364^*** (4.10)	0.170^* (1.91)
B	0.023 (1.62)	0.023^* (1.81)	0.026^** (1.98)	0.032^** (2.53)
常数项 Constant	8.694^*** (107.72)	8.528^*** (112.61)	8.605^*** (111.70)	8.394^*** (105.09)
n	390	390	390	390
R²	0.595	0.667	0.635	0.673
VIF	1.41	2.24	1.10	4.42
F值	86.72^***	100.98^***	123.38^***	121.68^***
F value
Hausman检验	90.95^***	99.17^***	57.14^***	45.76^***
Hausman test

Table 6 Mesomeric effect test results

变量 Variable	回归9 Regression 9	回归10 Regression 10
S	0.064^*** (6.60)	0.419^*** (8.31)
N	—	3.401^*** (13.17)
F	-0.010 (-0.76)	0.005 (0.08)
T	-0.304^*** (-3.17)	-4.216^*** (-7.61)
R	-0.101^*** (-3.61)	-0.818^*** (-5.87)
V	0.077^*** (5.20)	0.129^* (1.72)
B	0.002 (0.74)	0.023^** (2.06)
常数项 Constant	0.272^*** (18.89)	7.648^*** (79.06)
n	390	390
R²	0.375	0.755
VIF	1.36	1.39
F值F value	—	155.59^***
Wald检验Wald test	212.05^***	—
Hausman检验Hausman test	11.97	83.40^***
Bootstrap检验 Bootstrap test	—	0.088^*** (3.08) [0.032, 0.145]

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An “inverted U-shaped” relationship between agricultural insurance coverage level and agricultural income: from perspective of agricultural industry integration

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