Table 3.
Intermediary effect regression (risk assets).
| Explanatory variable | Risk assets | |||||
|---|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | ||
| Impact on rats | Intermediate effect | Direct effect | Intermediate effect | Direct effect | ||
| The impact of rat on hdra | Fixed rat depends on hdra | The influence of rat on the propra | Fixed rat to look at the propra | |||
| Part 1: Medical insurance for urban and rural residents | ||||||
| hdins | 0.0217 (0.0195) | −0.1200*** (0.0245) | −0.0150*** (0.0019) | |||
| Rat | −0.1200*** (0.0248) | −0.1200*** (0.0248) | −0.0101*** (0.00222) | −0.0099*** (0.0022) | ||
| Pri-hi | −0.0937** (0.0470) | 0.6040*** (0.0439) | 0.6040*** (0.0439) | 0.0404*** (0.0057) | 0.03990*** (0.0057) | |
| Bro-sis | 0.0131*** (0.0045) | 0.0149** (0.0062) | 0.0151** (0.0062) | 0.0004 (0.0004) | 0.0005 (0.0004) | |
| gender | −0.1260*** (0.0230) | −0.0044 (0.0279) | 0.0004 (0.0279) | −0.0027 (0.0022) | −0.0021 (0.0022) | |
| age | 0.0041*** (0.0013) | −0.0080*** (0.0015) | −0.0082*** (0.0014) | −0.0004*** (0.0001) | −0.0005*** (0.0001) | |
| Pri-jun edu | 0.0001 (0.0572) | −0.1210 (0.0873) | −0.0986 (0.0872) | −0.0261*** (0.0041) | −0.0230*** (0.0041) | |
| Hi-co edu | −0.1010 (0.0818) | −0.0292 (0.1160) | −0.0168 (0.1160) | −0.0161** (0.0065) | −0.0145** (0.0065) | |
| Ba edu | −0.0999 (0.1060) | −0.1010 (0.1460) | −0.0915 (0.1450) | 0.0022 (0.0093) | 0.0031 (0.0093) | |
| Y-edu | 0.0097 (0.0069) | 0.0458*** (0.0089) | 0.0422*** (0.0089) | 0.0039*** (0.0007) | 0.0035*** (0.0007) | |
| La | −0.0162 (0.0209) | 0.0572*** (0.0219) | 0.0677*** (0.0221) | 0.0163*** (0.0020) | 0.0178*** (0.0020) | |
| M | 0.1550*** (0.0417) | 0.1010* (0.0604) | 0.0997* (0.0603) | −0.0011 (0.0052) | −0.0009 (0.0052) | |
| D-w | 0.0781 (0.0501) | 0.0992 (0.0719) | 0.0965 (0.0718) | −0.0027 (0.0057) | −0.0027 (0.0056) | |
| Wco | 0.0070 (0.0307) | 0.0798** (0.0315) | 0.0856*** (0.0316) | −0.0028 (0.0020) | −0.0019 (0.0020) | |
| Hs | 0.0314*** (0.0077) | −0.0475*** (0.0100) | −0.0476*** (0.0100) | −0.0010 (0.0007) | −0.0009 (0.0007) | |
| Me-log | 0.0015 (0.0027) | 0.0062* (0.0033) | 0.0058* (0.0033) | 0.0001 (0.0002) | 0.0001 (0.0002) | |
| Me | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | |
| In-log | −0.0087** (0.0044) | 0.1290*** (0.0095) | 0.1250*** (0.0094) | 0.0052*** (0.0012) | 0.0047*** (0.0011) | |
| As-log | −0.0137*** (0.0031) | 0.2890*** (0.0064) | 0.2870*** (0.0064) | 0.0075*** (0.0025) | 0.0069*** (0.0025) | |
| Fn | 0.0048 (0.0052) | −0.0608*** (0.0075) | −0.0563*** (0.0076) | −0.0051*** (0.0007) | −0.0045*** (0.0006) | |
| Fa-ag | 0.0055*** (0.0012) | −0.0111*** (0.0014) | −0.0108*** (0.0014) | −0.0004*** (0.0001) | −0.0004*** (0.0001) | |
| Fpropm | −0.1600*** (0.0439) | 0.0603 (0.0569) | 0.0650 (0.0568) | 0.0015 (0.0041) | 0.0019 (0.0041) | |
| Fpropp | 0.0137 (0.0294) | 0.1070*** (0.0402) | 0.0926** (0.0402) | 0.0148*** (0.0023) | 0.0137*** (0.0023) | |
| Fpropw | −0.0794** (0.0361) | −0.2200*** (0.0400) | −0.2040*** (0.0401) | −0.0043 (0.0030) | −0.0015 (0.0030) | |
| Fpropr | 0.0331 (0.0332) | −0.0364 (0.0418) | −0.0435 (0.0418) | −0.0032 (0.0026) | −0.0039 (0.0027) | |
| Part 1: Medical insurance for urban and rural residents | ||||||
| Fay–edu | −0.0082** (0.0041) | 0.0425*** (0.0050) | 0.0402*** (0.0050) | 0.0009* (0.0005) | 0.0005 (0.0005) | |
| De-log | −0.0024 (0.0016) | −0.0104*** (0.0020) | −0.0104*** (0.0020) | −0.00125*** (0.0002) | −0.0012*** (0.0002) | |
| Part 2: Medical insurance for urban residents | ||||||
| hdins-urban | −0.0459 (0.0300) | 0.0187 (0.0307) | −0.0010 (0.0024) | |||
| Rat | −0.1190*** (0.0280) | −0.1180*** (0.0281) | −0.0096*** (0.0029) | −0.0096*** (0.0029) | ||
| Pri-hi | −0.0753 (0.0514) | 0.6520*** (0.0490) | 0.6520*** (0.0490) | 0.0300*** (0.0065) | 0.0300*** (0.0066) | |
| Bro-sis | 0.0231*** (0.0059) | 0.0108 (0.0072) | 0.0108 (0.0072) | −0.0002 (0.0006) | −0.0002 (0.0006) | |
| gender | −0.1590*** (0.0266) | 0.0127 (0.0305) | 0.0131 (0.0305) | −0.0014 (0.0029) | −0.0015 (0.0028) | |
| age | 0.0043*** (0.0016) | −0.0055*** (0.0018) | −0.0055*** (0.0018) | −0.0001 (0.0001) | −0.0001 (0.0002) | |
| Pri-jun edu | 0.0271 (0.0837) | −0.1590 (0.1180) | −0.1600 (0.1180) | −0.0336*** (0.0065) | −0.0335*** (0.0065) | |
| Hi-co edu | −0.0673 (0.1120) | −0.0590 (0.1490) | −0.0603 (0.1490) | −0.0302*** (0.0097) | −0.0301*** (0.0097) | |
| Ba edu | −0.0439 (0.1410) | −0.1610 (0.1820) | −0.1630 (0.1820) | −0.0156 (0.0131) | −0.0156 (0.0131) | |
| Y-edu | 0.0071 (0.0090) | 0.0542*** (0.0108) | 0.0546*** (0.0108) | 0.0039*** (0.0010) | 0.0039*** (0.0010) | |
| La | −0.0169 (0.0240) | 0.0543** (0.0258) | 0.0511* (0.0264) | 0.0102*** (0.0025) | 0.0104*** (0.0025) | |
| M | 0.1480*** (0.0485) | 0.1340** (0.0652) | 0.1340** (0.0652) | −0.0018 (0.0065) | −0.0018 (0.0065) | |
| D-w | 0.0428 (0.0597) | 0.106 (0.0788) | 0.106 (0.0789) | −0.00592 (0.00722) | −0.00594 (0.00722) | |
| Wco | −0.00431 (0.0380) | 0.0783** (0.0371) | 0.0783** (0.0371) | −0.00508* (0.00289) | −0.00508* (0.00289) | |
| Hs | 0.0408*** (0.0097) | −0.0335*** (0.0118) | −0.0334*** (0.0118) | 0.0001 (0.0010) | 0.0001 (0.0010) | |
| Me-log | 0.00191 (0.0034) | 0.0053 (0.0037) | 0.0054 (0.0037) | −0.0001 (0.0003) | −0.0001 (0.0003) | |
| Me | 0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | |
| In-log | −0.0061 (0.0053) | 0.1200*** (0.0106) | 0.1210*** (0.0106) | 0.0011 (0.0013) | 0.0011 (0.0013) | |
| As-log | −0.0170*** (0.0041) | 0.2780*** (0.0072) | 0.2780*** (0.0072) | −0.0021 (0.0029) | −0.0021 (0.0029) | |
| Fn | 0.0183** (0.0074) | −0.0614*** (0.0092) | −0.0615*** (0.0092) | −0.0042*** (0.0009) | −0.0042*** (0.0009) | |
| Fa-ag | 0.0060*** (0.0015) | −0.0117*** (0.0016) | −0.0117*** (0.0016) | −0.0001 (0.0001) | −0.0001 (0.0001) | |
| Fpropm | −0.1420*** (0.0526) | 0.0560 (0.0636) | 0.0559 (0.0636) | −0.0030 (0.0055) | −0.0030 (0.0055) | |
| Fpropp | 0.0222 (0.0378) | 0.1250*** (0.0462) | 0.1270*** (0.0462) | 0.0108*** (0.0034) | 0.0107*** (0.0034) | |
| Fpropw | −0.0744 (0.0463) | −0.1970*** (0.0466) | −0.1960*** (0.0467) | 0.0024 (0.0039) | 0.0024 (0.0039) | |
| Fpropr | 0.0653 (0.0425) | −0.0786 (0.0482) | −0.0785 (0.0482) | −0.0050 (0.0039) | −0.0050 (0.0039) | |
| Fay-edu | −0.0088 (0.0054) | 0.0382*** (0.0059) | 0.0382*** (0.0059) | −0.0007 (0.0006) | −0.0007 (0.0006) | |
| De-log | −0.0024 (0.0020) | −0.0064*** (0.0023) | −0.0065*** (0.0023) | −0.0012*** (0.0002) | −0.0012*** (0.0002) | |
| Part 3: New rural cooperative medical | ||||||
| hdins-rural | 0.0506 (0.0418) | 0.0130 (0.0596) | −0.0025 (0.0026) | |||
| Rat | −0.1360** (0.0539) | −0.1370** (0.0539) | −0.0180*** (0.0034) | −0.0179*** (0.0034) | ||
| Pri-hi | −0.1980 (0.1280) | 0.3430*** (0.1070) | 0.3430*** (0.1070) | 0.0470*** (0.0085) | 0.0467*** (0.0085) | |
| Bro-sis | −0.0048 (0.0069) | 0.0213* (0.0127) | 0.0213* (0.0127) | 0.0027*** (0.0006) | 0.0027*** (0.0006) | |
| gender | −0.0027 (0.0492) | −0.0184 (0.0747) | −0.0188 (0.0746) | −0.0041 (0.0028) | −0.0040 (0.0028) | |
| age | 0.0027 (0.0019) | −0.0111*** (0.0027) | −0.0111*** (0.0027) | −0.0018*** (0.0002) | −0.0018*** (0.0002) | |
| Pri-jun edu | −0.0539 (0.0823) | 0.0017 (0.1360) | 0.0012 (0.1360) | −0.0025 (0.0042) | −0.0024 (0.0042) | |
| Hi-co edu | −0.1300 (0.1280) | −0.0251 (0.1950) | −0.0249 (0.1950) | −0.0034 (0.0070) | −0.0034 (0.0070) | |
| Ba edu | −0.3960 (0.2920) | −0.1420 (0.4410) | −0.1370 (0.4410) | 0.0401 (0.0429) | 0.0393 (0.0429) | |
| Y-edu | 0.0113 (0.0110) | 0.0225 (0.0158) | 0.0226 (0.0158) | 0.0032*** (0.0007) | 0.0032*** (0.0007) | |
| La | −0.0670 (0.0517) | 0.0829 (0.0697) | 0.0819 (0.0700) | 0.0162*** (0.0039) | 0.0163*** (0.0039) | |
| M | 0.0507 (0.0939) | −0.1720 (0.1530) | −0.1720 (0.1530) | −0.0284*** (0.0077) | −0.0280*** (0.0077) | |
| D-w | 0.0667 (0.1040) | −0.0978 (0.1740) | −0.0985 (0.1740) | −0.0160** (0.0074) | −0.0157** (0.0074) | |
| Wco | 0.0607 (0.0529) | 0.1800*** (0.0647) | 0.1790*** (0.0648) | 0.0234*** (0.0037) | 0.0233*** (0.0037) | |
| Hs | 0.0196 (0.0126) | −0.0767*** (0.0186) | −0.0767*** (0.0186) | −0.0099*** (0.0014) | −0.0098*** (0.0014) | |
| Me-log | −0.0005 (0.0044) | 0.0106 (0.0071) | 0.0106 (0.0071) | 0.0014*** (0.0003) | 0.0014*** (0.0003) | |
| Me | −0.0001** (0.0001) | −0.0001 (0.0001) | −0.0001 (0.0001) | −0.0001*** (0.0001) | −0.0001*** (0.0001) | |
| In-log | −0.0214*** (0.0081) | 0.1340*** (0.0204) | 0.1340*** (0.0204) | 0.0188*** (0.0025) | 0.0187*** (0.0025) | |
| As-log | −0.0121** (0.0049) | 0.3010*** (0.0138) | 0.3010*** (0.0138) | 0.0401*** (0.0057) | 0.0398*** (0.0057) | |
| Fn | −0.0091 (0.0072) | −0.0375*** (0.0136) | −0.0376*** (0.0136) | −0.0063*** (0.0009) | −0.0062*** (0.0009) | |
| Fa-ag | 0.0032* (0.0018) | −0.0071*** (0.0026) | −0.0071*** (0.0026) | −0.0010*** (0.0002) | −0.0010*** (0.0002) | |
| Fpropm | −0.2410*** (0.0831) | 0.1180 (0.1270) | 0.1180 (0.1270) | 0.0212*** (0.0048) | 0.0210*** (0.0048) | |
| Fpropp | 0.0267 (0.0493) | −0.0678 (0.0932) | −0.0677 (0.0932) | −0.0072*** (0.0022) | −0.0070*** (0.0022) | |
| Fpropw | −0.0057 (0.0615) | −0.1330 (0.0942) | −0.1340 (0.0943) | −0.0154*** (0.0034) | −0.0152*** (0.0034) | |
| Fpropr | −0.0021 (0.0548) | 0.0707 (0.0954) | 0.0711 (0.0954) | 0.0151*** (0.0027) | 0.0150*** (0.0027) | |
| Fay-edu | −0.0078 (0.0070) | 0.0377*** (0.0102) | 0.0378*** (0.0102) | 0.0050*** (0.0008) | 0.0049*** (0.0008) | |
| De-log | −0.0017 (0.0028) | −0.0216*** (0.0041) | −0.0216*** (0.0041) | −0.0032*** (0.0004) | −0.0032*** (0.0004) | |
Standard errors in parentheses. *p < 0.1, **p < 0.05, ***p < 0.01.