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理论研究和实证证据都表明法制环境对金融市场发展存在显著影响,但是关于法制环境是否影响保险市场发展的研究较少。基于1997~2009年的中国省际面板数据开展法制环境影响财产保险市场的实证研究表明,在控制各省份经济规模、城市化水平、收入差距以及风险偏好的基础上,法制环境的改善对于财险市场的发展具有显著的促进作用。进一步引入财险赔付率作为控制变量后上述实证结果仍然成立,增强了实证结论的稳健性。该研究对于我国通过改善法律环境来促进财险市场的发展具有重要的政策意义。
Both theoretical research and empirical evidence show that the legal environment has a significant impact on the development of financial markets, but there is little research on whether the legal environment affects the development of the insurance market. Based on the panel data of China’s provinces from 1997 to 2009, the empirical research on the legal environment impacting the property insurance market shows that the improvement of the legal environment on the basis of controlling the economic scale, urbanization level, income disparity and risk appetite in various provinces shows that for the property insurance market, Market development has a significant role in promoting. Further introduction of property insurance loss rate as a control variable after the above empirical results still hold, enhance the robustness of empirical conclusions. This research has important policy significance for our country to promote the development of the property insurance market by improving the legal environment.