Social Norms and Household Savings Rates in China
Abstract
We study the effects of Confucian social norms on savings rates in China. In our simple two-period model, parents have the option to invest in either a risk-free asset or their children’s human capital. We assume that the filial piety norms and thus the enforcement mechanisms for supporting old-age parents differ across regions. Consequently, the probability of children’s non-performance of their repayment obligations to parents and the returns...
Paper Details
Title
Social Norms and Household Savings Rates in China
Published Date
Sep 11, 2018
Journal
Volume
23
Issue
5
Pages
961 - 991
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