基于勒纳指数的我国财产保险市场势力及福利损失研究
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摘要
中国保险行业作为金融体系中重要组成部分,其市场结构不仅影响产业自身发展,也影响到整个金融体系的稳定,本文主要研究中国产险市场结构中的垄断问题,定量测度产险市场上市场势力和福利损失的程度。本文基于中国财产保险企业2012—2016年的数据,借助勒纳指数与超对数成本函数,对产险市场的市场势力以及福利损失进行测度。结果表明:中国产险市场资产前10保险企业存在不同程度的市场势力,对社会造成的总福利损失占GDP百分比约为0.25%左右。基于此了解到中国产险市场存在市场势力与福利损失的具体情况,针对市场势力的治理方法提出意见。
As an important part of the financial system, the market structure of China's insurance industry not only affects the development of the industry itself, but also affects the stability of the whole financial system. The main purpose of this paper is to study the monopoly problem in the structure of China's insurance market, and to quantitatively measure the degree of market power and welfare losses in the property insurance market. Based on the data of Chinese property insurance companies from 2012 to 2016, this paper measures the market power and welfare loss of the insurance market with the help of Lerner index and superlogarithmic cost function. The results show that the top ten insurance companies in China's property insurance market have different degree of market power, and the total welfare loss to society accounts for about 0.25% of GDP. Based on this, we understand the specific situation of market power and welfare loss in China's insurance market, and give suggestions on the governance methods of market power.
As an important part of the financial system, the market structure of China's insurance industry not only affects the development of the industry itself, but also affects the stability of the whole financial system. The main purpose of this paper is to study the monopoly problem in the structure of China's insurance market, and to quantitatively measure the degree of market power and welfare losses in the property insurance market. Based on the data of Chinese property insurance companies from 2012 to 2016, this paper measures the market power and welfare loss of the insurance market with the help of Lerner index and superlogarithmic cost function. The results show that the top ten insurance companies in China's property insurance market have different degree of market power, and the total welfare loss to society accounts for about 0.25% of GDP. Based on this, we understand the specific situation of market power and welfare loss in China's insurance market, and give suggestions on the governance methods of market power.
引文
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[2] LERNER A P.The concept of monopoly and the measurement of monopoly power[J].Review of Economic Studies,1934,1(3):157.
[3] HARBERGER A C.Monopoly and resource allocation monopoly and resource allocation[J].American Economic Review,1954,5(2):77.
[4] DEMSETZ H.Industry structure,market rivalry,and public policy[J].Journal of Law & Economics,1973,16(1):1.
[5] AILAWADI K L,BORIN N,FARRIS P W.Market power and performance:a cross-industry analysis of manufacturers and retailers[J].Journal of Retailing,1995,71(3):211.
[6] 占明珍.市场势力研究:来自中国汽车制造业的实证[D].武汉:武汉大学,2011:50.
[7] BAIN,JOE S.Relation of profit rate to industry concentration:American manufacturing,1936—1940[J].The Quarterly Journal of Economics,1951,65(3):293.
[8] MICHAEL T.FLORINSKY.National power and the structure of foreign trade. by Albert O.Hirschman[J].American Political Science Review,1945,40(4):1105.
[9] HANNAN T H,BERGER A N.The rigidity of prices:evidence from the banking industry[J].American Economic Review,1991,81(4):938.
[10] ROSSE J N,PANZAR J C.Chamberlin vs.Robinson:an empirical test for monopoly[R].Bell Laboratories Economics,Discussion Paper,Bell Laboratories,1977.
[11] SHAFFER S.Competition,conduct and demand elasticity[J].Economics Letters,1982,10(1):167.
[12] 于良春,余东华.中国地区性行政垄断程度的测度研究[J].经济研究,2009(2):119.
[13] 闵丹,韩立岩.市场结构、行业周期与资本结构:基于战略公司财务理论的分析[J].管理世界,2008(2):82.
[14] 王贵东.1996—2013年中国制造业企业TFP测算[J].中国经济问题,2018(4):86.
[15] 王相宁,张志洋.中国商业银行市场势力对其效率和稳定性的影响[J].金融论坛,2010(12):16.
[16] 胡德宝,陈甬军.垄断势力及其福利损失测度:一个综述[J].山东大学学报(哲学社会科学版),2014(1):41.
[17] 邵洋.中国商业银行市场势力及社会福利损失研究[D].重庆:重庆大学,2013:28.
[18] 袁成,于润.我国保险市场结构与市场绩效的关系研究:基于SCP假说的实证检验[J].江西财经大学学报,2013,(3):63.
[19] 邵全权.保险业市场结构、产寿险结构对“保险—经济增长”系统的影响[J].保险研究,2015,(12):3.
[20] 科埃利.效率与生产率分析引论[M].北京:中国人民大学出版社,2008:245.