Household Savings, the Stock Market, and Economic Growth in China
AbstractPrevious research studies have suggested that rising optimism caused by booming stock prices has a significant negative impact on savings decisions. However, identifying this relationship clarifies only one side of the problem. It is also necessary to look at whether savings decisions can affect stock market performance. Moreover, another important question that policy makers may be interested in is how these savings and stock market investment decisions in the private sector can affect economic growth. This paper investigates this mechanism in China via a time-series approach and discusses further policy implications.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.
Volume (Year): 48 (2012)
Issue (Month): 2 (March)
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Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024
cointegration; economic growth; household savings; stock market; structural break;
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