IDEAS home Printed from https://ideas.repec.org/a/eee/soceco/v53y2014icp138-148.html
   My bibliography  Save this article

Global financial crisis and perceptions of job insecurity: The China case

Author

Listed:
  • Voon, Jan P.
  • Ma, Yiu C.

Abstract

Studies on perception of job insecurity (PJI) in relation to financial crises and on China have been extremely scant. Regression analysis of Chinese household survey (N=6681) was performed in order to assess the relationship between PJI and the 2008 global financial crisis. To address the possible endogeneity between PJI and the crisis indicator, we use relevant instrumental variables and compute the results using two stage least square (2SLS). We found that PJI in China were significantly correlated with the 2008 global financial crisis despite its high economic growth and frequent government interventions. Income and wealth reductions emanating from the crisis were also significantly correlated with PJI. Government's expansionary policies appear to be effective in ameliorating the workers’ PJI. Social developments such as provisions of social security and income protection measures could also be used to reduce Chinese workers’ job insecurity perception.

Suggested Citation

  • Voon, Jan P. & Ma, Yiu C., 2014. "Global financial crisis and perceptions of job insecurity: The China case," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 53(C), pages 138-148.
    • Handle: RePEc:eee:soceco:v:53:y:2014:i:c:p:138-148
    DOI: 10.1016/j.socec.2014.09.002
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2214804314000974
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.socec.2014.09.002?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Gallie, Duncan & White, Michael & Cheng, Yuan & Tomlinson, Mark, 1998. "Restructuring the Employment Relationship," OUP Catalogue, Oxford University Press, number 9780198294412.
    2. Guo-Hua Huang & Cynthia Lee & Susan Ashford & Zhenxiong Chen & Xiaopeng Ren, 2010. "Affective Job Insecurity," International Studies of Management & Organization, Taylor & Francis Journals, vol. 40(1), pages 20-39, January.
    3. Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2004. "How Much Should We Trust Differences-In-Differences Estimates?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 249-275.
    4. Jeffrey M Wooldridge, 2010. "Econometric Analysis of Cross Section and Panel Data," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262232588, April.
    5. Nele De Cuyper & Hans De Witte & Ulla Kinnunen & Jouko Nätti, 2010. "The Relationship Between Job Insecurity and Employability and Well-Being Among Finnish Temporary and Permanent Employees," International Studies of Management & Organization, Taylor & Francis Journals, vol. 40(1), pages 57-73, January.
    6. Schmidt, Stefanie R, 1999. "Long-Run Trends in Workers' Beliefs about Their Own Job Security: Evidence from the General Social Survey," Journal of Labor Economics, University of Chicago Press, vol. 17(4), pages 127-141, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Fayyaz Ahmad & Muhammad Umar Draz & Su-Chang Yang, 2016. "Do External and Internal Crises Affect Foreign Portfolio Inflows? The Case of China and India," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(7), pages 149-149, July.
    2. Bui, Thanh-Huong & Bui, Ha-Phuong & Pham, Thi Mai-Anh, 2024. "Effects of temperature on job insecurity: Evidence from Australia," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 264-276.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nikolov, Plamen & Adelman, Alan, 2019. "Do private household transfers to the elderly respond to public pension benefits? Evidence from rural China," The Journal of the Economics of Ageing, Elsevier, vol. 14(C).
    2. van Rijn, Jordan, 2018. "The Effect of Membership Expansion on Credit Union Risk and Returns," Staff Paper Series 588, University of Wisconsin, Agricultural and Applied Economics.
    3. Czarnitzki, Dirk & Doherr, Thorsten & Hussinger, Katrin & Schliessler, Paula & Toole, Andrew A., 2016. "Knowledge Creates Markets: The influence of entrepreneurial support and patent rights on academic entrepreneurship," European Economic Review, Elsevier, vol. 86(C), pages 131-146.
    4. Costa-Font, Joan & Jiménez-Martín, Sergi & Vilaplana-Prieto, Cristina, 2022. "Do Public Caregiving Subsidies and Supports affect the Provision of Care and Transfers?," Journal of Health Economics, Elsevier, vol. 84(C).
    5. Eduardo Fé & Bruce Hollingsworth, 2016. "Short- and long-run estimates of the local effects of retirement on health," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 179(4), pages 1051-1067, October.
    6. Cockx, Bart & Ghirelli, Corinna, 2016. "Scars of recessions in a rigid labor market," Labour Economics, Elsevier, vol. 41(C), pages 162-176.
    7. Müller, Isabella & Nguyen, Huyen & Nguyen, Trang, 2024. "Carbon transition risk and corporate loan securitization," IWH Discussion Papers 22/2022, Halle Institute for Economic Research (IWH), revised 2024.
    8. Seul-Ki Kim & Young-Chul Kim, 2021. "Coed vs Single-Sex Schooling: An Empirical Study on Mental Health Outcomes," Working Papers 2103, Nam Duck-Woo Economic Research Institute, Sogang University (Former Research Institute for Market Economy).
    9. Ron Berman & Ayelet Israeli, 2022. "The Value of Descriptive Analytics: Evidence from Online Retailers," Marketing Science, INFORMS, vol. 41(6), pages 1074-1096, November.
    10. Dumont, Etienne & Fortin, Bernard & Jacquemet, Nicolas & Shearer, Bruce, 2008. "Physicians' multitasking and incentives: Empirical evidence from a natural experiment," Journal of Health Economics, Elsevier, vol. 27(6), pages 1436-1450, December.
    11. Jolley, G. Jason & O'Donovan, Kristin Taylor & Sandler, Austin M., 2017. "Do Rural Areas Experience the Same Benet as Urban Areas from Disasters?," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 48(1), June.
    12. Rennhoff, Adam D. & Wilbur, Kenneth C., 2014. "Market-based measures of viewpoint diversity," Information Economics and Policy, Elsevier, vol. 26(C), pages 1-11.
    13. Hansen, Bruce E. & Lee, Seojeong, 2019. "Asymptotic theory for clustered samples," Journal of Econometrics, Elsevier, vol. 210(2), pages 268-290.
    14. Böckerman, Petri & Conlin, Andrew & Svento, Rauli, 2021. "Early health, risk aversion and stock market participation," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    15. Chad D. Meyerhoefer & Muzhe Yang, 2011. "The Relationship between Food Assistance and Health: A Review of the Literature and Empirical Strategies for Identifying Program Effects," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(3), pages 304-344.
    16. Bel, Germà & Holst, Maximilian, 2018. "Evaluation of the impact of Bus Rapid Transit on air pollution in Mexico City," Transport Policy, Elsevier, vol. 63(C), pages 209-220.
    17. Schwab, Thomas & Todtenhaupt, Maximilian, 2021. "Thinking outside the box: The cross-border effect of tax cuts on R&D," Journal of Public Economics, Elsevier, vol. 204(C).
    18. Puglisi Riccardo, 2011. "Being The New York Times: the Political Behaviour of a Newspaper," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-34, April.
    19. Thomas Barnay & Emmanuel Duguet & Yann Videau, 2022. "Did the 2005 French Disabled workers Act increase the employment rate of people with disabilities? An econometric evaluation on panel data," Erudite Working Paper 2022-01, Erudite.
    20. María Alzúa & Guillermo Cruces & Laura Ripani, 2013. "Welfare programs and labor supply in developing countries: experimental evidence from Latin America," Journal of Population Economics, Springer;European Society for Population Economics, vol. 26(4), pages 1255-1284, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:53:y:2014:i:c:p:138-148. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620175 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.