| ID | 095931 |
| Title Proper | Permanent land-use rights and endowment insurance |
| Other Title Information | Chinese evidence of the substitution effect |
| Language | ENG |
| Author | Yu, Ning ; Shi, Qinghua ; Jin, Hongtao |
| Publication | 2010. |
| Summary / Abstract (Note) | This paper studies the substitution effect of permanent land-use rights on endowment insurance in China. We first explain the rationality using an overlapping-generations model with heterogeneous households possessing land-use rights or not, and find that economic agents profiting from land in the latter stage of their life tend to save less for retirement than their land-deprived counterparts. Empirical evidence from village-clustered Chinese survey data on rural households supports this finding, locating a significant negative effect of land on social and commercial endowment insurance purchase. Apart from the important policy implication of compensating land-deprived farmers with insurance, our theoretical and empirical models both yield unexpected informing findings. |
| `In' analytical Note | China Economic Review Vol. 21, No. 2; Jun 2010: p.272-281 |
| Journal Source | China Economic Review Vol. 21, No. 2; Jun 2010: p.272-281 |
| Key Words | Land - Use Rights ; Endowment Insurance ; Overlapping - Generations Model ; China |