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It Takes Three to Ceilidh: Pension System and Multidimensional Poverty Mitigation in China

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  • Wang, Yansong David
  • Xu, Tao Louie
  • Yuan, Cheng

Abstract

This research employs the Alkire-Foster approach to measure multidimensional poverty between 2012 and 2020 in China, followed by examining the role of the three-pillar pension system in mitigating household multidimensional poverty. With the China Family Panel Studies data, our measurement uncovers the sustainable effects and mechanisms of household participation in the multi-pillar pension system on poverty mitigation. The results indicate that more participation in the pension system mitigates the probability of being trapped in multidimensional poverty. The findings reveal the significance of state social insurance, enterprise annuity, and individual commercial insurance. The mitigation effect of market-oriented pillars is achieved through more investment in and consumption for livelihood assets. Based upon the sustainable livelihoods framework, livelihood assets ameliorate household capabilities in human, natural, financial, and psychological capital against risks, shocks, and uncertainties. Our research contributes to the knowledge of how household participation in pension pillars sustainably mitigates multidimensional poverty through micro-level mechanisms and to the policy praxis of why a facilitating state is called for poverty mitigation from the perspective of new structural economics.

Suggested Citation

  • Wang, Yansong David & Xu, Tao Louie & Yuan, Cheng, 2024. "It Takes Three to Ceilidh: Pension System and Multidimensional Poverty Mitigation in China," SocArXiv xeaqt_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:xeaqt_v1
    DOI: 10.31219/osf.io/xeaqt_v1
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    References listed on IDEAS

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    1. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    2. Tao Xu, 2022. "Rural Pension System and Farmers' Participation in Residents' Social Insurance," Papers 2204.00785, arXiv.org.
    3. Anh Thu Quang Pham & Pundarik Mukhopadhaya & Ha Vu, 2020. "Targeting Administrative Regions for Multidimensional Poverty Alleviation: A Study on Vietnam," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 150(1), pages 143-189, July.
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