On the Fungibility of Spending and Earnings : Evidence from Rural China and Tanzania

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dc.creatorPan, Lei
dc.creatorChristiaensen, Luc
dc.date2013-01-29T18:26:14Z
dc.date2013-01-29T18:26:14Z
dc.date2012-12
dc.date.accessioned2026-07-01T00:58:26Z
dc.descriptionA common behavioral assumption of micro-economic theory is that income is fungible. Using household panel data from rural China and Tanzania, this study finds however that people are more likely to spend unearned income on less basic consumption goods such as alcohol and tobacco, non-staple food, transportation and communication, and clothing, while they are somewhat more likely to spend earned income on basic consumption goods such as staple food, and invest it in education. This resonates with the widespread cultural notion that money that is easily earned is also more easily spent. Cognitively, the results could be understood within the context of emotional accounting, whereby people classify income based on the emotions it evokes, prompting them to spend hard earned money more wisely to mitigate the negative connotations associated with its acquisition. The policy implications are real, bearing for example on the choice between employment guarantee schemes and cash transfers in designing social security programs.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2012/12/17123932/fungibility-spending-earnings-evidence-rural-china-tanzania
dc.identifierhttps://hdl.handle.net/10986/12208
dc.identifierhttps://doi.org/10.1596/1813-9450-6298
dc.identifier.urihttp://hdl.handle.net/123456789/413715
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationPolicy Research Working Paper; No. 6298
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectACCOUNTING
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectAGRICULTURE
dc.subjectAID EFFECTIVENESS
dc.subjectATTRITION
dc.subjectAVERAGE INCOME
dc.subjectBARGAINING
dc.subjectBORROWING
dc.subjectBUDGET CONSTRAINTS
dc.subjectCASH TRANSFERS
dc.subjectCONSUMER CHOICE
dc.subjectCONSUMERS
dc.subjectCONSUMPTION BEHAVIOR
dc.subjectCONSUMPTION FUNCTION
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCOPING BEHAVIORS
dc.subjectCOUPONS
dc.subjectCRISES
dc.subjectCROP INCOME
dc.subjectCROSS-SECTION DATA
dc.subjectDEBT
dc.subjectDECISION MAKING
dc.subjectDEPENDENT VARIABLE
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDROUGHT
dc.subjectEARNED INCOME
dc.subjectEARNINGS
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC REVIEW
dc.subjectECONOMIC SHOCKS
dc.subjectECONOMIC THEORY
dc.subjectEMPIRICAL APPLICATION
dc.subjectEMPIRICAL FINDINGS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT GUARANTEE SCHEMES
dc.subjectEXPLANATORY POWER
dc.subjectFARM ACTIVITIES
dc.subjectFARM INCOME
dc.subjectFEMALE LABOR
dc.subjectFINANCIAL SECTOR
dc.subjectFOOD CONSUMPTION
dc.subjectFOOD EXPENDITURES
dc.subjectFUNGIBILITY
dc.subjectGAME THEORY
dc.subjectGIFT GIVING
dc.subjectHOUSEHOLD BUDGET
dc.subjectHOUSEHOLD CONSUMPTION
dc.subjectHOUSEHOLD HEAD
dc.subjectHOUSEHOLD HEAD AGE
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD MEMBERS
dc.subjectHOUSEHOLD SIZE
dc.subjectHOUSEHOLD VULNERABILITY
dc.subjectINCOME
dc.subjectINCOME DATA
dc.subjectINCOME GAINS
dc.subjectINCOME GROUPS
dc.subjectINCOME LEVELS
dc.subjectINCOME SHARE
dc.subjectINCOME SOURCE
dc.subjectINCOME SOURCES
dc.subjectINCOME TRANSFERS
dc.subjectINCOMES
dc.subjectINSURANCE
dc.subjectLABOUR
dc.subjectLIQUIDITY
dc.subjectLOW INCOME
dc.subjectMARGINAL PROPENSITY TO CONSUME
dc.subjectMEASUREMENT ERROR
dc.subjectNONFARM INCOME
dc.subjectNUTRITION
dc.subjectOPTIMIZATION
dc.subjectPERMANENT INCOME
dc.subjectPERMANENT INCOME HYPOTHESIS
dc.subjectPOLICY DISCUSSIONS
dc.subjectPOLICY IMPLICATIONS
dc.subjectPOLICY INTERVENTIONS
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL ECONOMY
dc.subjectPOOR
dc.subjectPOST KEYNESIAN ECONOMICS
dc.subjectPOVERTY ANALYSIS
dc.subjectPOVERTY REDUCTION
dc.subjectPOVERTY REDUCTION PROJECT
dc.subjectPUBLIC ECONOMICS
dc.subjectPUBLIC POLICY
dc.subjectRECIPROCITY
dc.subjectREGRESSION TECHNIQUES
dc.subjectRELATIVE PRICES
dc.subjectRESOURCE ALLOCATION
dc.subjectRURAL
dc.subjectRURAL HOUSEHOLDS
dc.subjectRURAL INFRASTRUCTURE
dc.subjectRURAL SETTINGS
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSCHOOL FEEDING
dc.subjectSIGNIFICANCE LEVEL
dc.subjectSOCIAL SAFETY
dc.subjectSOCIAL SAFETY NETS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SECURITY PROGRAMS
dc.subjectTARGETING
dc.subjectTAXATION
dc.subjectUTILITY FUNCTION
dc.subjectWEALTH
dc.titleOn the Fungibility of Spending and Earnings : Evidence from Rural China and Tanzania

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