Old-Age Security Value of Children :  Cross-National Socioeconomic Evidence

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Abstract

Some of the findings of the nine-country "Value of Children Study" pertaining to the perceived value of children in providing old-age security to their parents are presented. To what extent this value is attributed by parents to their children and what benefits are expected from children were assessed in the context of socioeconomic development. Specifically, it was found that with development, the old-age security value of the child decreases, which appears to be a key process contributing to lower fertility as well as to the modification of values concerning the place of the child and the care of the aged in society. Thus, the value attributed to the child forms an explanatory link at the individual level between development and declining fertility.

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The standard formulation of the microeconomic theory of fertility, which emphasizes the demand for children and, to a lesser extent, the costs of fertility control, is too limited in its scope for use by most demographers and sociologists. The approach advanced in this paper adds to the usual theory a more explicit and formal treatment of the production of children, including the possibility of shifts in production independent of demand conditions. This more comprehensive framework is compared with the usual approach in the analysis of several empirical problems-non-marital fertility, premodern fertility fluctuations and differentials, and the secular fertility decline-and is shown to be better suited for incorporating the concepts and hypotheses of noneconomists along with those of economists.

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Author and article information

Journal

Title: Journal of Cross-Cultural Psychology

Abbreviated Title: Journal of Cross-Cultural Psychology

Publisher: SAGE Publications

ISSN (Print): 0022-0221

ISSN (Electronic): 1552-5422

Publication date Created: March 1982

Publication date (Electronic): July 27 2016

Publication date (Print): March 1982

Volume: 13

Issue: 1

Pages: 29-42

Affiliations

[1 ]Boğaziçi University,Istanbul, Turkey

Article

DOI: 10.1177/0022022182131004

SO-VID: dabc4438-e83f-430d-8566-8d55e2efe189

License:

http://journals.sagepub.com/page/policies/text-and-data-mining-license

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