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Impact of Credit Constraints from Formal Financial Institutions on Rural Residents’ Health in China

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Department of Labor and Social Security, School of Public Administration, Sichuan University, Chengdu 610065, China
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Department of Accounting, College of Management, Sichuan Agricultural University, Chengdu 611130, China
3
Department of Agricultural Economics and Agribusiness, Louisiana State University (LSU) and LSU AgCenter, Baton Rouge, LA 70803, USA
*
Author to whom correspondence should be addressed.
Healthcare 2021, 9(1), 6; https://doi.org/10.3390/healthcare9010006
Received: 16 November 2020 / Revised: 14 December 2020 / Accepted: 19 December 2020 / Published: 23 December 2020
(This article belongs to the Section Health Policy)
This is the first study in China that looks at the impact of credit constraints from formal financial institutions on Chinese rural residents’ health. We use the Chinese Household Income Project (CHIP) data collected by the Annual Household Survey Office of Integration of Urban and Rural in the National Bureau of Statistics in 2014. We measure rural residents’ health status with self-rated health assessment and the number of sick days in 2013. The results obtained from using the ordered probit model show that, in general, credit constraints from formal financial institutions significantly and negatively affect the self-rated health of Chinese rural residents. When an endogeneity issue is addressed using the instrumental variable (IV) approach, this paper’s results are still robust. The results also show that the impact of credit constraints from formal financial institutions on rural residents’ self-rated health is significant in male, female, married, and unmarried sub-groups. Further, we find that credit constraints from formal financial institutions impact rural residents’ health through income and economic vulnerability. The findings have implications for preventing rural residents from falling into a health trap due to credit constraints from formal financial institutions. View Full-Text
Keywords: credit constraints; health; rural resident; poverty; China credit constraints; health; rural resident; poverty; China
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MDPI and ACS Style

Yang, F.; Jiang, Y.; Paudel, K.P. Impact of Credit Constraints from Formal Financial Institutions on Rural Residents’ Health in China. Healthcare 2021, 9, 6. https://doi.org/10.3390/healthcare9010006

AMA Style

Yang F, Jiang Y, Paudel KP. Impact of Credit Constraints from Formal Financial Institutions on Rural Residents’ Health in China. Healthcare. 2021; 9(1):6. https://doi.org/10.3390/healthcare9010006

Chicago/Turabian Style

Yang, Fan, Yao Jiang, and Krishna P. Paudel 2021. "Impact of Credit Constraints from Formal Financial Institutions on Rural Residents’ Health in China" Healthcare 9, no. 1: 6. https://doi.org/10.3390/healthcare9010006

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