基于勒纳指数的我国财产保险市场势力及福利损失研究

Research on China's property insurance market power and welfare loss based on Lerner Index

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.