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Household Saving Behaviour in an Extended Life Cycle Model: A Comparative Study of China and India

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  • James Ang

Abstract

This paper examines the determinants of household saving in China and India over the last few decades using the life cycle model, with appropriate modifications to account for the expected benefits of pension saving. Consistent with the predictions made in the life cycle model, higher income growth promotes more household saving, and higher age dependency does the opposite. An increase in the inflation rate appears to encourage household saving. Interestingly, the evidence suggests that an increase in expected pension benefits tends to discourage household saving in China in the long run, but the reverse is found in India.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Journal of Development Studies.

Volume (Year): 45 (2009)
Issue (Month): 8 ()
Pages: 1344-1359

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Handle: RePEc:taf:jdevst:v:45:y:2009:i:8:p:1344-1359

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Cited by:
  1. James Ang & Kunal Sen, 2008. "Private Saving In India And Malaysia Compared: The Role Of Financial Liberalization And Expected Pension Benefits," Development Research Unit Working Paper Series, Monash University, Department of Economics 13/08, Monash University, Department of Economics.
  2. Bussière, Matthieu & Kalantzis, Yannick & Lafarguette, Romain & Sicular, Terry, 2013. "Understanding household savings in China: the role of the housing market and borrowing constraints," MPRA Paper 44611, University Library of Munich, Germany.
  3. Delwar Hossain, 2014. "Differential Impacts of Foreign Capital and Remittance Inflows on Domestic Savings in the Developing Countries: A Dynamic Heterogeneous Panel Analysis," Departmental Working Papers, The Australian National University, Arndt-Corden Department of Economics 2014-07, The Australian National University, Arndt-Corden Department of Economics.
  4. James B. Ang & Jakob B. Madsen, 2013. "International R&D Spillovers And Productivity Trends In The Asian Miracle Economies," Economic Inquiry, Western Economic Association International, vol. 51(2), pages 1523-1541, 04.
  5. El Mekkaoui de Freitas, Najat & Mage-Bertomeu, Sabine & Arestoff, Florence & Abdelkhalek, Touhami, 2010. "A microeconometric analysis of household savings determinants in Morocco," Economics Papers from University Paris Dauphine 123456789/12164, Paris Dauphine University.
  6. Ejaz Ghani, 2011. "Reshaping Tomorrow : Is South Asia Ready for the Big Leap?," World Bank Publications, The World Bank, number 16360, August.
  7. Yao, Yang, 2014. "The Chinese Growth Miracle," Handbook of Economic Growth, in: Handbook of Economic Growth, edition 1, volume 2, chapter 7, pages 943-1031 Elsevier.
  8. Thomas Gries & Ha van Dung, 2014. "Household Savings and Productive Capital Formation in Rural Vietnam: Insurance vs. Social Network," Working Papers CIE 81, University of Paderborn, CIE Center for International Economics.

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