From Children to Parents: How Education, Marital Status, and Gender Shape Upward Financial Transfers
摘要
This study investigated: (a) the relationship between the educational attainment of adult children and upward financial transfers, and (b) whether the child’s gender and marital status moderated this relationship. This study used data from the Korean Longitudinal Study of Aging (KLoSA) and employed sibling fixed effects models to account for both observed and unobserved family-level heterogeneity. Interaction models were used to investigate whether the relationship between adult children’s educational attainment and upward financial transfers varied on the basis of the gender and marital status of the adult children. Sibling fixed effects estimates revealed that an increase in the educational attainment of adult children was associated with an increase in upward financial transfers to older parents. The results of a three-way interaction model suggested that the effects of adult children’s educational attainment on upward financial transfers were more pronounced for daughters than sons among unmarried children, whereas the effects were similar for sons and daughters among married children. The study sheds light on the role of adult children’s educational attainment in shaping the financial well-being of their older parents. In the context of Korea’s rapidly aging society with limited resources for lower income adults, the findings emphasize the importance of addressing potential financial distress among older adults, particularly those with low-educated, unmarried daughters.