Caring about bequest, so caring for parents? Evidence from China's housing sector

This article reveals an informal eldercare arrangement in China by focusing on how the value of housing owned by aging parents affects adult children's caregiving behavior. Using three waves of national survey data in 2011-2015, we find that when the potential housing-bequest value increases, adult children from multi-child households provide more emotional support for their parents, demonstrating the role of the intergenerational-exchange mechanism in China's current eldercare arrangement. However, such an informal mechanism is weakened by the prevalent social norms of son preference and is also less effective among emerging only-child households. Therefore, we call for more market-oriented arrangements.