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Access to Pensions, Old-Age Support, and Child Investment in the People’s Republic of China

Author

Listed:
  • Shan, Xiaoyue

    (University of Pennsylvania)

  • Park, Albert

    (Asian Development Bank)

Abstract

This paper studies how access to public pensions affects old-age support and child investment in traditional societies. Guided by predictions from an overlapping generations model, we analyze the influences of a new pension program in rural People’s Republic of China, using a difference-in-differences approach. We find that the program crowds out transfers from working-age adults, especially men, to their elderly parents. Interestingly, the impact on child investment significantly differs by child gender. While adult parents increase educational investment in sons, their investment in daughters appears to decrease. Our findings highlight the unintended consequences of public pensions on parental investment.

Suggested Citation

  • Shan, Xiaoyue & Park, Albert, 2023. "Access to Pensions, Old-Age Support, and Child Investment in the People’s Republic of China," ADB Economics Working Paper Series 682, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0682
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    More about this item

    Keywords

    altruism; pension; old-age support; rural PRC; intergenerational transfers;
    All these keywords.

    JEL classification:

    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

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