INSTABILITY IN MARRIAGE MARKET : EMPIRICAL EVIDENCE AND THEORETICAL ANALYSIS

Abstract

The marriage institution is a basic building block of the societies (like Singapore and Taiwan) which are highly dependent on human resources. This institution is the basic economic unit of society and hence, its stability is of paramount importance. Unstable marriages have been known to have adverse effects on individuals. Increasingly, instability of marriage markets has been an issue of concern over the years. Such a phenomenon has captured the attention of sociologists and economists alike, with much research being devoted to further the understanding of this market. The purpose of this thesis is to study the failings of the marriage market, i.e. to understand what causes a one-to-one matching to become unstable. Factors inherent in the macrostructure of the economy as well as individual-specific determinants are considered in the study. Data related to marital instability is utilised, where available, to gain greater insights to the causes of unstable marriages. In all societies there exist several common determinants of marital instability, with individual societies possessing factors unique to themselves. Many variables were identified to be related to unstable marriages. Age at marriage, wives with employment, premarital sex, economic cycles and liberalisation of social values are all found to be positively related to unstable marriages. Among these variables related to instability in marriages, there are some which are individual-specific and there are others which are structural in nature. Individual-specific factors are within our control in that we can make a conscious effort to avoid a potential mate with these characteristics. However, factors such as economic cycles are beyond our control. Therefore instability in marriages can be minimised through the manipulation of individual-specific variables but cannot be entirely avoided due to factors beyond our control. With more in-depth understanding of unstable marriages, it is hoped that appropriate measures may be adopted to correct the instability of the marriage market, hence re-establishing human faith in the marriage institution.