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How does social security affect economic growth? Evidence from cross-country data

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  • Jie Zhang
  • Junsen Zhang

Abstract

This paper investigates how social security interacts with growth and growth determinants (savings, human capital investment, and fertility). Our empirical investigation finds that the estimated coefficient on social security is significantly negative in the fertility equation, insignificant in the saving equation, and significantly positive in the growth and education equations. By contrast, the estimated coefficient on growth is insignificant in the social security equation. The results suggest that social security may indeed be conducive to growth through tipping the trade-off between the number and quality of children toward the latter. Copyright Springer-Verlag 2004

Suggested Citation

  • Jie Zhang & Junsen Zhang, 2004. "How does social security affect economic growth? Evidence from cross-country data," Journal of Population Economics, Springer;European Society for Population Economics, vol. 17(3), pages 473-500, August.
    • Handle: RePEc:spr:jopoec:v:17:y:2004:i:3:p:473-500
    DOI: 10.1007/s00148-004-0198-x
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    More about this item

    Keywords

    H55; J13; O41; Social security; growth; fertility; human capital; saving;
    All these keywords.

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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