Peer Effects, Risk Pooling, and Status Seeking: What Explains Gift Spending Escalation in Rural China?
Published By: IFPRI on eSS | Published Date: December, 10 , 2011It has been widely documented that the poor spend a significant proportion of their income on gifts even at the expense of basic consumption. We test three competing explanations of this phenomenon—peer effect, status concern, and risk pooling—based on a census-type primary household survey in three natural villages in rural China and on detailed household records of gifts received on major occasions. [IFPRI Discussion Paper 01151]. URL:[http://www.ifpri.org/sites/default/files/publications/ifpridp01151.pdf].
Author(s): Xi Chen, Ravi Kanbur, Xiaobo Zhang | Posted on: Jan 10, 2012 | Views(794) | Download (175)