Why Is China S Saving Rate So High
DOWNLOAD
Download Why Is China S Saving Rate So High PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Why Is China S Saving Rate So High book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Why Is China S Saving Rate So High
DOWNLOAD
Author : Juann H. Hung
language : en
Publisher:
Release Date : 2010
Why Is China S Saving Rate So High written by Juann H. Hung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with China categories.
Why Is China S Saving Rate So High
DOWNLOAD
Author : Juann H. Hung
language : en
Publisher:
Release Date : 2010
Why Is China S Saving Rate So High written by Juann H. Hung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with China categories.
China S High Saving Rate
DOWNLOAD
Author : Guonan Ma
language : en
Publisher:
Release Date : 2010
China S High Saving Rate written by Guonan Ma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with China categories.
The saving rate of China is high from many perspectives - historical experience, international standards and the predictions of economic models. Furthermore, the average saving rate has been rising over time, with much of the increase taking place in the 2000s, so that the aggregate marginal propensity to save exceeds 50%. What really sets China apart from the rest of the world is that the rising aggregate saving has reflected high savings rates in all three sectors - corporate, household and government. Moreover, adjusting for inflation alters interpretations of the time path of the propensity to save in the three sectors. Our evidence casts doubt on the proposition that distortions and subsidies account for China's rising corporate profits and high saving rate. Instead, we argue that tough corporate restructuring (including pension and home ownership reforms), a marked Lewis-model transformation process (where the average wage exceeds the marginal product of labour in the subsistence sector) and rapid ageing process have all played more important roles. While such structural factors suggest that the Chinese saving rate will peak in the medium term, policies for job creation and a stronger social safety net would assist the transition to more balanced domestic demand.
China S High Savings Drivers Prospects And Policies
DOWNLOAD
Author : Ms.Longmei Zhang
language : en
Publisher: International Monetary Fund
Release Date : 2018-12-11
China S High Savings Drivers Prospects And Policies written by Ms.Longmei Zhang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-11 with Business & Economics categories.
China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Why Are Saving Rates So High In China
DOWNLOAD
Author : Dennis Tao Yang
language : en
Publisher:
Release Date : 2011
Why Are Saving Rates So High In China written by Dennis Tao Yang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Economics categories.
Abstract: In this paper, we define â??The Chinese Saving Puzzleâ?? as the persistently high national saving rate at 34â??53 percent of gross domestic product (GDP) in the past three decades and a surge in the saving rate by 11 percentage points from 2000â??2008. Using data from the Flow of Funds Accounts (FFA) and Urban Household Surveys (UHS) supplemented by the findings from existing studies, we analyze the sources and causes of China's high and rising saving rates in the government, corporate, and household sectors. Although the causes of China's high saving are complex, we suggest that the evolving economic, demographic, and policy trends in the internal and external environments of the Chinese economy will likely lead to a decline in national saving in the foreseeable future
Income Uncertainty And Household Savings In China
DOWNLOAD
Author : Mr.Marcos Chamon
language : en
Publisher: International Monetary Fund
Release Date : 2010-12-01
Income Uncertainty And Household Savings In China written by Mr.Marcos Chamon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-profile of savings.
China S Consumption Driven Growth Path
DOWNLOAD
Author : Alexandra Küttel
language : en
Publisher:
Release Date : 2012
China S Consumption Driven Growth Path written by Alexandra Küttel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
A key policy question that China is facing is how to rebalance economic growth away from export/investment dependency to a consumption-driven growth path. It is a widespread believe that the main culprit of reduced private consumption as share of GDP is the rising household saving rate. It is often claimed that saving rates have remained so high due to precautionary savings by households caused by the lack of a well-functioning social security system. In order to implement adequate policies to increase household consumption, it is essential to know what drives Chinese household saving. This thesis conducts a panel analysis of the determinants of the household saving rate across Chinese provinces for the 2000-2010 period. The main findings are the presence of very strong saving inertia across urban and rural households and mixed effects of most other variables on urban and rural households. No evidence is found for precautionary saving driven by the lack of adequate social security.
Precautionary Saving Of Chinese And U S Households
DOWNLOAD
Author : Horag Choi
language : en
Publisher:
Release Date : 2014
Precautionary Saving Of Chinese And U S Households written by Horag Choi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Finance, Personal categories.
We employ a model of precautionary saving to study why household saving rates are so high in China and so low in the US. The use of recursive preferences gives a convenient decomposition of saving into precautionary and non precautionary components. This decomposition indicates that over 80 percent of China's saving rate and nearly all of the US saving arises from the precautionary motive. The difference in the income growth rate between China and the US is vastly more important for explaining saving rate differences than differences in income risk. We estimate the preference parameters and find that Chinese and US households are more similar in their attitude toward risk than in their intertemporal substitutability of consumption.
Understanding High Saving Rate In China
DOWNLOAD
Author : Xinhua He
language : en
Publisher:
Release Date : 2008
Understanding High Saving Rate In China written by Xinhua He and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This paper presents a detailed analysis of the Chinese saving rate based on the flow of funds data. It finds that the most widely adopted view of precautionary saving, which is regarded as the top reason for maintaining a high saving rate in China, is misleading because this conclusion is drawn from the household survey data. In fact, the household saving rate has declined dramatically since the mid-1990s, as is observed from the flow of funds framework. The high national saving rate is attributed to the increasing shares of both government and corporation disposable incomes. Insufficient consumption demand is caused by the persistent decrease in percentage share of household to national disposable income. Government-directed income redistribution urgently needs to be improved to accelerate consumption, which in turn would make the Chinese economy less investment-led and help to reduce the current account surplus.
Why Is China S Post 1978 Household Saving Rate So High
DOWNLOAD
Author : YuFei Shi
language : en
Publisher:
Release Date : 2007
Why Is China S Post 1978 Household Saving Rate So High written by YuFei Shi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with China categories.