The Determinants of Household Saving in China : A Dynamic Panel Analysis of Provincial Data

Material type: 文書・図像類

Author: Horioka, Charles Yujiほか

Publisher: The Institute of Social and Economic Research, Osaka University

Publication date: 2007-09

Material Format: Paper

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Note (General)：: ISER discussion paperNovember 2006 Revised September 2007In this paper, we conduct a dynamic panel analysis of the determinants of the household savin...

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Paper

Material Type: 文書・図像類
Title: The Determinants of Household Saving in China : A Dynamic Panel Analysis of Provincial Data
Author/Editor: Horioka, Charles Yuji
Wan, Junmin
Author Heading: Horioka, Charles Yuji
https://nrid.nii.ac.jp/nrid/1000090173632
Wan, Junmin
https://nrid.nii.ac.jp/nrid/1000040423123
Publication, Distribution, etc.: The Institute of Social and Economic Research, Osaka University
Publication Date: 2007-09
Publication Date (W3CDTF): 2007-09
Periodical title: Institute of Social and Economic Research Discussion Papers
No. or year of volume/issue: 676
Volume: 676
Pages: 1-35
Text Language Code: eng
Subject Heading: Age structure
China
demographics
dependency ratio
habit formation
household saving
household saving rate
household
inertia
life cycle hypothesis
life cycle model
permanent income hypothesis
persistence
saving
saving rate
Target Audience: 一般
Note (General): ISER discussion paper
November 2006 Revised September 2007
In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China’s household survey. We find that China’s household saving rate has been high and rising and that the main determinants of variations over time and over space therein are the lagged saving rate, the income growth rate, (in many cases) the real interest rate, and (in some cases) the inflation rate. However, we find that the variables relating to the age structure of the population have the expected impact on the household saving rate in only one of the four samples. These results provide mixed support for the life cycle hypothesis as well as the permanent income hypothesis, are consistent with the existence of inertia or persistence, and imply that China’s household saving rate will remain high for some time to come.
References (URI): http://www.iser.osaka-u.ac.jp/library/dp/2006/DP0676.pdf
URI
http://www.iser.osaka-u.ac.jp/library/dp/2006/DP0676.pdf
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 大阪大学 : 大阪大学学術情報庫　桜華