Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China

When social security is established to provide pensions to parents, their reliance upon children for future financial support decreases, and their need to save for retirement also falls. In this study, the expansion of pension coverage from the sta...

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Main Authors:	Mu, Ren, Du, Yang
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	CHECKS TEACHERS EDUCATIONAL ACTIVITIES OLD AGE OLD-AGE PENSION PRIVATE ENTERPRISES INTEREST SCHOOLING TUITION ENROLLMENT QUALITY SCHOOLS INTEREST RATE EXCHANGE GROUPS OPTION EDUCATION INVESTMENT CARE GIVERS HOUSEHOLD SAVING LIQUIDITY DEVELOPING COUNTRIES BEQUEST MOTHERS POLITICAL ECONOMY EDUCATION EXPENDITURES RURAL CHILDREN DISCOUNT BUDGET CONSTRAINTS PENSION SYSTEM DUMMY VARIABLE INTERNATIONAL BANK PENSION INSTRUMENTS DEMOGRAPHY BUDGET KNOWLEDGE LABOR MARKET PENSION PROVISIONS DERIVATIVES QUALITY OF EDUCATION TRAINING EDUCATION INVESTMENTS EDUCATIONAL ATTAINMENT PRIVATE SCHOOLS OLD-AGE PENSIONS FAMILY SIZE EDUCATIONAL OPPORTUNITIES LIQUIDITY CONSTRAINTS OPTIONS CLASSES CAPITAL MARKET HOUSEHOLD INCOME PENSION REFORM RETURN LEARNING MARRIAGE SCHOOL QUALITY REGULAR SCHOOLS TEACHING YOUTH ORGANIZATIONS INSURANCE POLICY CHILD CARE FINANCE DEVELOPMENTAL PSYCHOLOGY EDUCATION SPENDING TAXES MARKET INTEREST RATE EXPENDITURE BUDGET CONSTRAINT HUMAN CAPITAL RURAL SCHOOLS DROPOUT RATES ENROLLMENT RATES WAGES SCIENCE EQUAL ACCESS AGED OLD-AGE INCOME LEGAL OBLIGATION VALUES SCHOOLS FAMILY FUTURE PARTICIPATION AGE PENSIONS FATHERS ENROLLMENT RATE CONTRACT EXPENDITURES INDEXES YOUTH SHARES MARKET ADOLESCENTS HOUSEHOLD SAVINGS RETURN TO EDUCATION INSURANCE SEX PARENTS CHILDREN SECURITY TRANSFER PAYMENTS EDUCATION INVESTMENT CHILD EDUCATION BEQUESTS HUMAN RESOURCES SHARE RURAL AREAS FINANCIAL ASSETS MEN YOUNG PEOPLE PUBLIC SCHOOLS GIRLS STUDENTS FINANCIAL SUPPORT INVESTMENTS CHECK EXTRACURRICULAR ACTIVITIES PENSION FUND SCHOOL AGE CHILDREN FEES EXCHANGE RATE INSTRUMENT WOMEN LIABILITIES MARGINAL UTILITY OF CONSUMPTION GENERATIONS INVESTING
Online Access:	http://documents.worldbank.org/curated/en/2015/10/25202815/pension-coverage-parents-educational-investment-children-evidence-urban-china http://hdl.handle.net/10986/22879

id	okr-10986-22879
recordtype	oai_dc
spelling	okr-10986-228792021-04-23T14:04:11Z Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China Mu, Ren Du, Yang CHECKS TEACHERS EDUCATIONAL ACTIVITIES OLD AGE OLD-AGE PENSION PRIVATE ENTERPRISES INTEREST SCHOOLING TUITION ENROLLMENT QUALITY SCHOOLS INTEREST RATE EXCHANGE GROUPS OPTION EDUCATION INVESTMENT CARE GIVERS HOUSEHOLD SAVING LIQUIDITY DEVELOPING COUNTRIES BEQUEST MOTHERS POLITICAL ECONOMY EDUCATION EXPENDITURES RURAL CHILDREN DISCOUNT BUDGET CONSTRAINTS PENSION SYSTEM DUMMY VARIABLE INTERNATIONAL BANK PENSION INSTRUMENTS DEMOGRAPHY BUDGET KNOWLEDGE LABOR MARKET PENSION PROVISIONS DERIVATIVES QUALITY OF EDUCATION TRAINING EDUCATION INVESTMENTS EDUCATIONAL ATTAINMENT PRIVATE SCHOOLS OLD-AGE PENSIONS FAMILY SIZE EDUCATIONAL OPPORTUNITIES LIQUIDITY CONSTRAINTS OPTIONS CLASSES CAPITAL MARKET HOUSEHOLD INCOME PENSION REFORM RETURN LEARNING MARRIAGE SCHOOL QUALITY REGULAR SCHOOLS TEACHING YOUTH ORGANIZATIONS INSURANCE POLICY CHILD CARE FINANCE DEVELOPMENTAL PSYCHOLOGY EDUCATION SPENDING TAXES MARKET INTEREST RATE EXPENDITURE BUDGET CONSTRAINT HUMAN CAPITAL RURAL SCHOOLS DROPOUT RATES ENROLLMENT RATES WAGES SCIENCE EQUAL ACCESS AGED OLD-AGE INCOME LEGAL OBLIGATION VALUES SCHOOLS FAMILY FUTURE PARTICIPATION AGE PENSIONS FATHERS ENROLLMENT RATE CONTRACT EXPENDITURES INDEXES YOUTH SHARES MARKET ADOLESCENTS HOUSEHOLD SAVINGS RETURN TO EDUCATION INSURANCE SEX PARENTS CHILDREN SECURITY TRANSFER PAYMENTS EDUCATION INVESTMENT CHILD EDUCATION BEQUESTS HUMAN RESOURCES SHARE RURAL AREAS FINANCIAL ASSETS MEN YOUNG PEOPLE PUBLIC SCHOOLS GIRLS STUDENTS FINANCIAL SUPPORT INVESTMENTS CHECK EXTRACURRICULAR ACTIVITIES PENSION FUND SCHOOL AGE CHILDREN FEES EXCHANGE RATE INSTRUMENT WOMEN LIABILITIES MARGINAL UTILITY OF CONSUMPTION GENERATIONS INVESTING When social security is established to provide pensions to parents, their reliance upon children for future financial support decreases, and their need to save for retirement also falls. In this study, the expansion of pension coverage from the state sector to the non-state sector in urban China is used as a quasi-experiment to analyze the intergenerational impact of social security on education investments in children. In a difference-in-differences framework, a significant increase in the total education expenditure is found to be attributable to pension expansion. The results are unlikely to be driven by other observable trends. They are robust to the inclusion of a large set of control variables and to different specifications, including one based on the instrumental variable method. 2015-11-05T19:21:33Z 2015-11-05T19:21:33Z 2015-10 Working Paper http://documents.worldbank.org/curated/en/2015/10/25202815/pension-coverage-parents-educational-investment-children-evidence-urban-china http://hdl.handle.net/10986/22879 English en_US Policy Research Working Paper;No. 7457 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research East Asia and Pacific China
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	CHECKS TEACHERS EDUCATIONAL ACTIVITIES OLD AGE OLD-AGE PENSION PRIVATE ENTERPRISES INTEREST SCHOOLING TUITION ENROLLMENT QUALITY SCHOOLS INTEREST RATE EXCHANGE GROUPS OPTION EDUCATION INVESTMENT CARE GIVERS HOUSEHOLD SAVING LIQUIDITY DEVELOPING COUNTRIES BEQUEST MOTHERS POLITICAL ECONOMY EDUCATION EXPENDITURES RURAL CHILDREN DISCOUNT BUDGET CONSTRAINTS PENSION SYSTEM DUMMY VARIABLE INTERNATIONAL BANK PENSION INSTRUMENTS DEMOGRAPHY BUDGET KNOWLEDGE LABOR MARKET PENSION PROVISIONS DERIVATIVES QUALITY OF EDUCATION TRAINING EDUCATION INVESTMENTS EDUCATIONAL ATTAINMENT PRIVATE SCHOOLS OLD-AGE PENSIONS FAMILY SIZE EDUCATIONAL OPPORTUNITIES LIQUIDITY CONSTRAINTS OPTIONS CLASSES CAPITAL MARKET HOUSEHOLD INCOME PENSION REFORM RETURN LEARNING MARRIAGE SCHOOL QUALITY REGULAR SCHOOLS TEACHING YOUTH ORGANIZATIONS INSURANCE POLICY CHILD CARE FINANCE DEVELOPMENTAL PSYCHOLOGY EDUCATION SPENDING TAXES MARKET INTEREST RATE EXPENDITURE BUDGET CONSTRAINT HUMAN CAPITAL RURAL SCHOOLS DROPOUT RATES ENROLLMENT RATES WAGES SCIENCE EQUAL ACCESS AGED OLD-AGE INCOME LEGAL OBLIGATION VALUES SCHOOLS FAMILY FUTURE PARTICIPATION AGE PENSIONS FATHERS ENROLLMENT RATE CONTRACT EXPENDITURES INDEXES YOUTH SHARES MARKET ADOLESCENTS HOUSEHOLD SAVINGS RETURN TO EDUCATION INSURANCE SEX PARENTS CHILDREN SECURITY TRANSFER PAYMENTS EDUCATION INVESTMENT CHILD EDUCATION BEQUESTS HUMAN RESOURCES SHARE RURAL AREAS FINANCIAL ASSETS MEN YOUNG PEOPLE PUBLIC SCHOOLS GIRLS STUDENTS FINANCIAL SUPPORT INVESTMENTS CHECK EXTRACURRICULAR ACTIVITIES PENSION FUND SCHOOL AGE CHILDREN FEES EXCHANGE RATE INSTRUMENT WOMEN LIABILITIES MARGINAL UTILITY OF CONSUMPTION GENERATIONS INVESTING
spellingShingle	CHECKS TEACHERS EDUCATIONAL ACTIVITIES OLD AGE OLD-AGE PENSION PRIVATE ENTERPRISES INTEREST SCHOOLING TUITION ENROLLMENT QUALITY SCHOOLS INTEREST RATE EXCHANGE GROUPS OPTION EDUCATION INVESTMENT CARE GIVERS HOUSEHOLD SAVING LIQUIDITY DEVELOPING COUNTRIES BEQUEST MOTHERS POLITICAL ECONOMY EDUCATION EXPENDITURES RURAL CHILDREN DISCOUNT BUDGET CONSTRAINTS PENSION SYSTEM DUMMY VARIABLE INTERNATIONAL BANK PENSION INSTRUMENTS DEMOGRAPHY BUDGET KNOWLEDGE LABOR MARKET PENSION PROVISIONS DERIVATIVES QUALITY OF EDUCATION TRAINING EDUCATION INVESTMENTS EDUCATIONAL ATTAINMENT PRIVATE SCHOOLS OLD-AGE PENSIONS FAMILY SIZE EDUCATIONAL OPPORTUNITIES LIQUIDITY CONSTRAINTS OPTIONS CLASSES CAPITAL MARKET HOUSEHOLD INCOME PENSION REFORM RETURN LEARNING MARRIAGE SCHOOL QUALITY REGULAR SCHOOLS TEACHING YOUTH ORGANIZATIONS INSURANCE POLICY CHILD CARE FINANCE DEVELOPMENTAL PSYCHOLOGY EDUCATION SPENDING TAXES MARKET INTEREST RATE EXPENDITURE BUDGET CONSTRAINT HUMAN CAPITAL RURAL SCHOOLS DROPOUT RATES ENROLLMENT RATES WAGES SCIENCE EQUAL ACCESS AGED OLD-AGE INCOME LEGAL OBLIGATION VALUES SCHOOLS FAMILY FUTURE PARTICIPATION AGE PENSIONS FATHERS ENROLLMENT RATE CONTRACT EXPENDITURES INDEXES YOUTH SHARES MARKET ADOLESCENTS HOUSEHOLD SAVINGS RETURN TO EDUCATION INSURANCE SEX PARENTS CHILDREN SECURITY TRANSFER PAYMENTS EDUCATION INVESTMENT CHILD EDUCATION BEQUESTS HUMAN RESOURCES SHARE RURAL AREAS FINANCIAL ASSETS MEN YOUNG PEOPLE PUBLIC SCHOOLS GIRLS STUDENTS FINANCIAL SUPPORT INVESTMENTS CHECK EXTRACURRICULAR ACTIVITIES PENSION FUND SCHOOL AGE CHILDREN FEES EXCHANGE RATE INSTRUMENT WOMEN LIABILITIES MARGINAL UTILITY OF CONSUMPTION GENERATIONS INVESTING Mu, Ren Du, Yang Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
geographic_facet	East Asia and Pacific China
relation	Policy Research Working Paper;No. 7457
description	When social security is established to provide pensions to parents, their reliance upon children for future financial support decreases, and their need to save for retirement also falls. In this study, the expansion of pension coverage from the state sector to the non-state sector in urban China is used as a quasi-experiment to analyze the intergenerational impact of social security on education investments in children. In a difference-in-differences framework, a significant increase in the total education expenditure is found to be attributable to pension expansion. The results are unlikely to be driven by other observable trends. They are robust to the inclusion of a large set of control variables and to different specifications, including one based on the instrumental variable method.
format	Working Paper
author	Mu, Ren Du, Yang
author_facet	Mu, Ren Du, Yang
author_sort	Mu, Ren
title	Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
title_short	Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
title_full	Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
title_fullStr	Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
title_full_unstemmed	Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China
title_sort	pension coverage for parents and educational investment in children : evidence from urban china
publisher	World Bank, Washington, DC
publishDate	2015
url	http://documents.worldbank.org/curated/en/2015/10/25202815/pension-coverage-parents-educational-investment-children-evidence-urban-china http://hdl.handle.net/10986/22879
_version_	1764452307833978880

Pension Coverage for Parents and Educational Investment in Children : Evidence from Urban China

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