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Table 7 Effects of Health Shocks and Medical Insurance on the Proportion of Holding Risky Financial Assets

From: Health shock, medical insurance and financial asset allocation: evidence from CHFS in China

 

Proportion of Risky Financial Asset

 

Bottom 20%

20-40%

40-60%

60-80%

Top 20%

 

(1)

(2)

(3)

(4)

(5)

Commercial medical insurance

0.016

0.039**

0.030**

0.038***

0.066***

 

(0.011)

(0.017)

(0.012)

(0.014)

(0.015)

Social medical insurance

0.003

-0.003

0.011*

-0.018

0.044***

 

(0.002)

(0.007)

(0.005)

(0.011)

(0.015)

Health shock

-0.001

0.000

-0.005

0.019**

-0.001

 

(0.002)

(0.004)

(0.004)

(0.008)

(0.013)

Health shock on family member

0.002

-0.001

0.002

-0.000

-0.022*

 

(0.002)

(0.003)

(0.004)

(0.006)

(0.012)

Individual controls

Yes

Yes

Yes

Yes

Yes

Household controls

Yes

Yes

Yes

Yes

Yes

Province FE

Yes

Yes

Yes

Yes

Yes

Observations

7341

3891

5221

5298

4825

R-squared

0.043

0.055

0.080

0.084

0.146

  1. Notes: Standard errors are presented in parentheses. Individual control and family variables include gender, age, education level, marriage status, urban/rural status, income per family member, family size, and so forth. *** p < 0.01, ** p < 0.05, * p < 0.1