IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v88y2026ics1544612325023050.html

Social security, industrial structure distortion and household economic resilience

Author

Listed:
  • Deng, Xiangmei
  • Yan, Xinyi
  • Huang, Dan
  • Tao, Rui

Abstract

This study systematically examines the relationship between social security expenditures and household economic resilience using panel data from the China Household Finance Survey (CHFS) from 2013 to 2019. It also analyzes the moderating effect of industrial structure distortions on this relationship. Regression results indicate that social security expenditures exert a significant positive effect on household economic resilience, with regional heterogeneity observed; meanwhile, industrial structure distortions exert a negative moderating effect. Based on these findings, this paper recommends establishing a rational social security system, enhancing household economic resilience, and mitigating the crowding-out effect of industrial structure distortions on social security budgets.

Suggested Citation

  • Deng, Xiangmei & Yan, Xinyi & Huang, Dan & Tao, Rui, 2026. "Social security, industrial structure distortion and household economic resilience," Finance Research Letters, Elsevier, vol. 88(C).
    • Handle: RePEc:eee:finlet:v:88:y:2026:i:c:s1544612325023050
    DOI: 10.1016/j.frl.2025.109056
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612325023050
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2025.109056?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Xu, Ke, 2024. "Digital finance, social security expenditures, and rural-urban household income poverty. Evidence based on an area and household level analysis," Finance Research Letters, Elsevier, vol. 60(C).
    2. Li, Guoying & Liu, Zhenhai & Liu, Tangsen & Chen, Li, 2024. "Twisted industrial structure, land financing mode and social security," Finance Research Letters, Elsevier, vol. 69(PA).
    3. Rong Peng & Xueqin Deng & Yinghua Xia & Bei Wu, 2022. "Assessing the Sustainability of Long-Term Care Insurance Systems Based on a Policy–Population–Economy Complex System: The Case Study of China," IJERPH, MDPI, vol. 19(11), pages 1-17, May.
    4. Yang, Sui & Zhao, Xiaoman, 2024. "The income redistribution effect of social security in China," China Economic Review, Elsevier, vol. 83(C).
    5. Zheng, Fengyi & Bai, Yi & Hu, Ming & Liou, Jennhae, 2025. "Fiscal decentralization and rural public services–a new structural economics perspective," Finance Research Letters, Elsevier, vol. 83(C).
    6. Xingmin Yin & Haitao Xia & Xiaochen Zheng, 2025. "An Evaluation of China’s Basic Pension Insurance Benefit Adjustment Policy to Ensure Sustainability, Guarantee, and Fairness," Sustainability, MDPI, vol. 17(3), pages 1-22, February.
    7. Yan, Haining & Wang, Zijin & Shu, Changjiang & jennhae, liou, 2024. "How does social security contribution affect enterprise performance: A perpective based on new structural economics," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1596-1607.
    8. Zhang, Gaofei & Li, Jingyi & Ma, Jing & Liu, Zhenhai, 2024. "Pro-growth or limit-on: How environmental regulations affect residents' well-being," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1509-1520.
    9. Colin Green & Bruce Hollingsworth & Miaoqing Yang, 2021. "The impact of social health insurance on rural populations," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 22(3), pages 473-483, April.
    10. Ma, Hongxin & Yin, Yingkai & Liu, Zhenhai & Bai, Yi, 2024. "A study of the impact of digital finance usage on household consumption upgrading: Based on financial asset allocation perspective," International Review of Economics & Finance, Elsevier, vol. 96(PA).
    11. Christina D. Romer & David H. Romer, 2022. "A Social Insurance Perspective on Pandemic Fiscal Policy: Implications for Unemployment Insurance and Hazard Pay," Journal of Economic Perspectives, American Economic Association, vol. 36(2), pages 3-28, Spring.
    12. Li, Qianqian & Zhao, Zhengtang & Chen, Tingting, 2024. "The effect of public pension insurance integration on income disparities between urban-rural households: Evidence from a quasi-experiment in China," Finance Research Letters, Elsevier, vol. 66(C).
    13. Liou, Jennhae & Wang, Zijin & Jiau, Tzeryan & Zhao, Qiuyun, 2025. "Financial institution coverage and firm's cross-regional investment: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 106(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yang, Shiyu & Qiu, Ye & Cai, Wanhuan & Wang, Dawei, 2025. "Digital financial inclusion, environmental governance and household economic resilience," Finance Research Letters, Elsevier, vol. 85(PE).
    2. Fang, Ziwei & Hu, Ming & Jiao, Zeyan & Zheng, Fengyi, 2026. "Intergenerational upward economic support, social participation, and elderly health: An empirical test based on the china health and retirement longitudinal study (CHARLS)," Economic Analysis and Policy, Elsevier, vol. 89(C), pages 681-689.
    3. Cheng, Bo & Yan, Hanxi & Cai, Wanhuan & Wang, Xin, 2025. "Research on the impact of development strategies on energy consumption," Economic Analysis and Policy, Elsevier, vol. 88(C), pages 1237-1250.
    4. Cai, Dongsong & Long, Ling & Cai, Wanhuan & Wang, Xin, 2025. "Population aging, digital financial inclusion, development strategies and economic resilience," International Review of Economics & Finance, Elsevier, vol. 103(C).
    5. Fang, Ziwei & Peng, Yinghao & Zhang, Gaofei & Zheng, Fengyi, 2025. "Fiscal decentralization, catch-up strategy, and social security," Finance Research Letters, Elsevier, vol. 86(PG).
    6. Yang, Gang & Yuan, Gongming & Kou, Junhao & Jiau, Shyhyan, 2025. "Impact of inclusive finance on private enterprise Lending: Evidence from China private enterprise survey," International Review of Economics & Finance, Elsevier, vol. 101(C).
    7. Yang, Gang & Yan, Hanxi & Zhang, Zhuxin & Cai, Wanhuan, 2025. "Social security contribution burden and firms' financial resource mismatch," Finance Research Letters, Elsevier, vol. 85(PD).
    8. Bai, Changyi & Guan, Wen & Wang, Dawei & Chen, Xiyi, 2024. "Digital village construction and the quality of life of rural residents," International Review of Economics & Finance, Elsevier, vol. 96(PC).
    9. Li, Sijing & Yin, Yingkai & Jiao, Zeyan & Zhao, Qiuyun, 2025. "Financial investment and green development: How does financialization affect green total factor productivity?," Finance Research Letters, Elsevier, vol. 78(C).
    10. Li, Chunmei & Yang, Gang & Cai, Wanhuan & Shi, Hanfei, 2025. "Enterprise digital transformation and green competitiveness: Opportunity or crisis?," Finance Research Letters, Elsevier, vol. 77(C).
    11. Wang, Pengcheng & Yang, Xuelin, 2024. "Social trust and household financial decision-making: An empirical study based on the usage of household financial technology," Finance Research Letters, Elsevier, vol. 70(C).
    12. Chen, Wei & Li, Jiawei, 2025. "Digital finance, consumer convenience, and rural residents’ consumption," Finance Research Letters, Elsevier, vol. 82(C).
    13. Fang, Xia & Zhang, Yun & Lv, Shuqing & Tan, Longxin, 2025. "Does digital finance spatial correlation drive income convergence?," Economic Modelling, Elsevier, vol. 153(C).
    14. Pi, Tianlei & Jiao, Linke & Zhou, Yuhan & Shi, Jin, 2026. "Biodiversity risk and corporate greenwashing: Evidence from China," Research in International Business and Finance, Elsevier, vol. 83(C).
    15. Wang, Minglu & Zhao, Shuchen & Jing, Peng, 2026. "Do peer effects in stock market participation enhance household portfolio efficiency? Evidence from China," International Review of Economics & Finance, Elsevier, vol. 105(C).
    16. Clemens, Jeffrey & Hoxie, Philip G. & Veuger, Stan, 2025. "Was pandemic fiscal relief effective fiscal stimulus? Evidence from aid to state and local governments," Journal of Macroeconomics, Elsevier, vol. 86(C).
    17. Karen Dynan & Douglas Elmendorf, 2026. "Lessons for Automatic Fiscal Stabilizers from the Great Recession and the COVID-19 Recession," Tax Policy and the Economy, University of Chicago Press, vol. 40(1), pages 1-45.
    18. Renner, Anna-Theresa & Shaikh, Mujaheed & Spitzer, Sonja, 2025. "Absence from work and lifetime smoking behavior: Evidence from European maternal leave policies," Journal of Health Economics, Elsevier, vol. 102(C).
    19. Kelechi Chijindu Nnamdi & Franklin Nnaemeka Ngwu & Anthony Onah, 2025. "Economic planning, multidimensional poverty and income redistribution," Quality & Quantity: International Journal of Methodology, Springer, vol. 59(4), pages 3051-3077, August.
    20. Zhang, Jian & Li, Ting & He, Yuhui & Li, Zhaohui, 2025. "Does land transfer-out facilitate an upgrade in farmers’ consumption," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 2219-2233.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:88:y:2026:i:c:s1544612325023050. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.