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Children and Household Savings in the Philippines

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Author Info
Orbeta, Aniceto Jr. C.

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Abstract

This paper examines the relationship between household savings and family size. Household savings are important indicators for family welfare not only in terms of its investment and income generation prospects but also, and perhaps more importantly given pervasive borrowing constraints and limited social security coverage, because it provides protection from income shortfalls. Descriptive and multivariate evidence on the relationship of household savings and family size are provided. The endogeneity of family size in the household savings equation, as argued for in the old-age security hypothesis, is properly considered by using instrumental variables estimation technique. The paper uses a recent nationally representative household survey in the analysis. The results show that, on average, the impact of additional children on household savings is negative and that the impact is regressive.

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File URL: http://dirp4.pids.gov.ph/ris/dps/pidsdps0614.pdf
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Publisher Info
Paper provided by Philippine Institute for Development Studies in its series Discussion Papers with number DP 2006-14.

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Length: 24
Date of creation: 2006
Date of revision:
Handle: RePEc:phd:dpaper:dp_2006-14

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Web page: http://www.pids.gov.ph/
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Related research
Keywords: Philippines; family size; household savings;

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This paper has been announced in the following NEP Reports: 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. Neher, Philip A, 1971. "Peasants, Procreation, and Pensions," American Economic Review, American Economic Association, vol. 61(3), pages 380-89, June.
  2. Christopher F Baum & Mark E. Schaffer & Steven Stillman, 2002. "Instrumental variables and GMM: Estimation and testing," Boston College Working Papers in Economics 545, Boston College Department of Economics, revised 14 Feb 2003. [Downloadable!]
    Other versions:
  3. Harris, Mark N & Loundes, Joanne & Webster, Elizabeth, 2002. "Determinants of Household Saving in Australia," The Economic Record, The Economic Society of Australia, vol. 78(241), pages 207-23, June. [Downloadable!] (restricted)
  4. Orbeta, Aniceto Jr. C., 2005. "Poverty, Vulnerability and Family Size: Evidence from the Philippines," Discussion Papers DP 2005-19, Philippine Institute for Development Studies. [Downloadable!]
  5. Black, Sandra E. & Devereux, Paul J. & Salvanes, Kjell G., 2004. "The More the Merrier? The Effect of Family Composition on Children's Education," IZA Discussion Papers 1269, Institute for the Study of Labor (IZA). [Downloadable!]
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  6. Orazio P. Attanasio & Agar Brugiavini, 2003. "Social Security And Households' Saving," The Quarterly Journal of Economics, MIT Press, vol. 118(3), pages 1075-1119, August. [Downloadable!] (restricted)
  7. Angrist, Joshua D & Evans, William N, 1998. "Children and Their Parents' Labor Supply: Evidence from Exogenous Variation in Family Size," American Economic Review, American Economic Association, vol. 88(3), pages 450-77, June. [Downloadable!] (restricted)
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  8. Stock, James H & Wright, Jonathan H & Yogo, Motohiro, 2002. "A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(4), pages 518-29, October.
  9. Paxson, Christina H, 1992. "Using Weather Variability to Estimate the Response of Savings to Transitory Income in Thailand," American Economic Review, American Economic Association, vol. 82(1), pages 15-33, March. [Downloadable!] (restricted)
  10. Leff, Nathaniel H, 1969. "Dependency Rates and Savings Rates," American Economic Review, American Economic Association, vol. 59(5), pages 886-96, December. [Downloadable!] (restricted)
  11. Musgrove, Philip, 1978. "Determinants of Urban Household Consumption in Latin America: A Summary of Evidence from the ECIEL Surveys," Economic Development and Cultural Change, University of Chicago Press, vol. 26(3), pages 441-65, April.
  12. De Vos, Susan, 1985. "An Old-Age Security Incentive for Children in the Philippines and Taiwan," Economic Development and Cultural Change, University of Chicago Press, vol. 33(4), pages 793-814, July.
  13. Orbeta, Aniceto Jr. C., 2005. "Number of Children and their Education in Philippine Households," Discussion Papers DP 2005-21, Philippine Institute for Development Studies. [Downloadable!]
  14. Hammer, Jeffrey S., 1986. "Children and savings in less developed countries," Journal of Development Economics, Elsevier, vol. 23(1), pages 107-118, September. [Downloadable!] (restricted)
  15. Gersovitz, Mark, 1988. "Saving and development," Handbook of Development Economics, in: Hollis Chenery† & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 10, pages 381-424 Elsevier. [Downloadable!] (restricted)
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  1. Racelis, Rachel & Salas, J.M. Ian S., 2007. "Measuring Economic Lifecycle and Flows across Population Age Groups: Data and Methods in the Application of the NTA in the Philippines," Discussion Papers DP 2007-12, Philippine Institute for Development Studies. [Downloadable!]
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