TY - JOUR
T1 - Global financial crisis and perceptions of job insecurity : the China case
AU - VOON, Jan P.
AU - MA, Yiu C.
PY - 2014/12
Y1 - 2014/12
N2 - 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.
AB - 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.
KW - China
KW - Financial crisis
KW - Job insecurity perceptions
UR - https://www.scopus.com/inward/record.uri?eid=2-s2.0-84922637651&doi=10.1016%2fj.socec.2014.09.002&partnerID=40&md5=5c8d12e05b121ea83c1808c079fdfc37
U2 - 10.1016/j.socec.2014.09.002
DO - 10.1016/j.socec.2014.09.002
M3 - Journal Article (refereed)
VL - 53
SP - 138
EP - 148
JO - Journal of Behavioral and Experimental Economics
JF - Journal of Behavioral and Experimental Economics
SN - 2214-8043
ER -