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The impact of maternity insurance on fertility intentions: Evidence from panel data of the Chinese Social Survey (CSS)

Author

Listed:
  • Liu, Ming
  • Di, Mingwei
  • Cai, Qingqing
  • Xu, Yang

Abstract

This study constructs a two-period Overlapping Generation (OLG) model incorporating maternity insurance and utilizes panel data from the 2019 and 2021 Chinese Social Survey (CSS) to examine the impact and underlying mechanisms on fertility intentions from both theoretical and empirical perspectives. The findings indicate that: (1) Maternity insurance exerts a significant incentive effect on fertility intentions, remaining robust after accounting for endogeneity and conducting various robustness tests. (2) Maternity insurance not only reduces the economic costs associated with childbirth but also enhances individuals’ social evaluations, which in turn stimulates fertility intentions. (3) The impact of maternity insurance on fertility intentions exhibits heterogeneous effects, with stronger incentive effects observed among higher socioeconomic status groups, farming households or regions with lower economic development. Our findings accordingly call for expanding maternity insurance coverage, designing targeted and population-specific benefit schemes, and fostering a positive discourse surrounding childbirth to further encourage fertility.

Suggested Citation

  • Liu, Ming & Di, Mingwei & Cai, Qingqing & Xu, Yang, 2025. "The impact of maternity insurance on fertility intentions: Evidence from panel data of the Chinese Social Survey (CSS)," Finance Research Letters, Elsevier, vol. 85(PC).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pc:s1544612325013832
    DOI: 10.1016/j.frl.2025.108128
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    Keywords

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    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth

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