Economic development and long-term care provision by families, markets and the state
Akira Yakita ()
The Journal of the Economics of Ageing, 2020, vol. 15, issue C
In earlier stages of economic development, women mainly serve as family elderly care providers. With economic development, progress by women in the work force has lowered care levels. If levels should fall below the minimum care level for elderly parents, then children might enter into insurance contracts and even demand provision of long-term elderly care by the state. Such a change in elderly care provision is consistent with predictions that have been presented in the literature. As a further examination of this topic, this paper presents the conjecture that, as wage rates rise further, children will provide sufficient elderly care to parents by purchasing market care services.
Keywords: Altruistic children; Economic development; Informal elderly care; Long-term care policy; Market elderly care (search for similar items in EconPapers)
JEL-codes: D91 H53 J18 O17 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:joecag:v:15:y:2020:i:c:s2212828x19300970
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