A Research of the Volatility in Provincial Consumption Risk Sharing Cycle ——The Role of SME Credit Availability
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Abstract The major concerns of current study on consumption risk sharing focus on consumption risk sharing level and channels, and ignored the consumption risk sharing cycle volatility and its reason. This study uses provincial panel data to examine how small and micro enterprises (SME) credit availability changes the cyclical dependence of risk sharing through SME owner’s income insurance mechanism. The results show that the extent of risk sharing is procyclical. Although SME credit availability’s influences on our provincial consumption risk sharing cycle is different, the income insurance mechanism of SME has already started to have an influence. Therefore, to increase the support to SME credit availability, and to promote small business owners income insurance mechanism to play a bigger role, is of great significance to smooth consumption and increase social welfare.
CHEN Xiao-Fan,XIANG Yu,ZHAN Song. A Research of the Volatility in Provincial Consumption Risk Sharing Cycle ——The Role of SME Credit Availability. Economic Survey, 2015, 32(6): 0155.
2015, Vol. 32 
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