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Banking on fewer children: Financial intermediation, fertility and economic development

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  • Carol Scotese Lehr

    ()
    (Virginia Commonwealth University, Department of Economics, Box 844000, Richmond, VA 23284-4000, USA)

Abstract

This paper shows that financial intermediation can influence fertility and labor allocation decisions by raising market wages. The increase in wages induces some households to abandon "traditional" labor intensive methods of production managed at the household level and supply labor to "modern" sector firms. Since it is optimal for households in the modern sector to have fewer children, the labor allocation decision leads to lower national fertility. A panel VAR using financial intermediation, fertility and industrial employment share data in 87 countries is estimated. The empirical results show that the data are consistent with the theoretical predictions.

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 12 (1999)
Issue (Month): 4 ()
Pages: 567-590

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Handle: RePEc:spr:jopoec:v:12:y:1999:i:4:p:567-590

Note: Received: 20 October 1997/Accepted: 31 August 1998
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Related research

Keywords: Financial intermediation · fertility · economic development;

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Cited by:
  1. Filoso, Valerio & Papagni, Erasmo, 2010. "Fertility Choice and Financial Development," MPRA Paper 25930, University Library of Munich, Germany.
  2. Horváth, Csilla & Wieringa, Jaap E., 2003. "Combining time series and cross sectional data for the analysis of dynamic marketing systems," Research Report 03F13, University of Groningen, Research Institute SOM (Systems, Organisations and Management).

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