A Study on the Impact of Social Security on Economic Growth in China

Abstract

Social security has always been a matter of social and public concern that government departments, experts and scholars and the public are concerned. It plays a very important role in social economy. The article first analyzes the transmission effect of social security on economic growth, and then selects the economic statistics data from 1997 to 2017 as the sample interval. VAR model, and through the co-integration analysis of the model system, impulse response function and variance decomposition on the impact of social security on economic growth empirical study. Impulse response function shows that the level of social security has a more stable effect on consumption and savings, and it has a stable effect on GDP growth from the perspective of accumulation. Variance decomposition shows that, without regard to the contribution of GDP under the premise of the level of social security caused by changes in consumption contribution to GDP growth rate is greater.