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Financial Support for Adult Children in Australia

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Author Info
Beal, Diana J. (University of Southern Queensland)
Abstract

Financial gifts from parents to children appear to amount to large sums in the wealthier industrialised nations, but little is known about these intergenerational transfers in Australia. This paper reports some preliminary research into parental attitudes to such transfers and finds the level of parental education is closely linked to the giving of financial gifts. Interestingly, philosophical support for financial assistance to adult children is found to be not directly linked to income or wealth. However, belief in supporting adult children during the years of higher education is linked to education, occupation, income and wealth of the parents. Regarding the question of whether financial support changes the economic behaviour of recipients, the data suggest that recipients are more likely to be savers than non-recipients. Moreover, the only statistically significant demographic difference between savers and non-savers among recipients is annual income, with a higher proportion of the non-savers having low (<$30,000) annual household income.

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Publisher Info
Article provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).

Volume (Year): 31 (2001)
Issue (Month): 1 (March)
Pages: 13-24
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Handle: RePEc:eap:articl:v:31:y:2001:i:1:p:13-24

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Related research
Keywords: Children; Parent;

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Find related papers by JEL classification:
D64 - Microeconomics - - Welfare Economics - - - Altruism
J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Modigliani, Franco, 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 15-40, Spring. [Downloadable!] (restricted)
  2. Kotlikoff, Laurence J, 1988. "Intergenerational Transfers and Savings," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 41-58, Spring. [Downloadable!] (restricted)
    Other versions:
  3. William G. Gale & John Karl Scholz, 1991. "Intergenerational Transfers and the Accumulation of Wealth," UCLA Economics Working Papers 624, UCLA Department of Economics. [Downloadable!]
    Other versions:
  4. McGarry, Kathleen, 1999. "Inter vivos transfers and intended bequests," Journal of Public Economics, Elsevier, vol. 73(3), pages 321-351, September. [Downloadable!] (restricted)
  5. Bateman, Hazel & Ablett. John, 2000. "Compulsory Superannuation and Australian Generational Accounts," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 30(1), pages 33-48, March. [Downloadable!]
  6. Kessler, Denis & Masson, Andre, 1989. "Bequest and Wealth Accumulation: Are Some Pieces of the Puzzle Missing?," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 141-52, Summer. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Shankha Chakraborty & Mausumi Das, 2003. "Mortality, Fertility and Child Labor," University of Oregon Economics Department Working Papers 2003-35, University of Oregon Economics Department, revised 01 Dec 2003. [Downloadable!]
    Other versions:
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