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China's High Saving Puzzle

Author

Listed:
  • Ma, Guonan

    (Bank for International Settlements)

  • Yang, Dennis T.

    (University of Virginia)

Abstract

This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored.

Suggested Citation

  • Ma, Guonan & Yang, Dennis T., 2013. "China's High Saving Puzzle," IZA Discussion Papers 7223, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp7223
    as

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    File URL: https://docs.iza.org/dp7223.pdf
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    References listed on IDEAS

    as
    1. Dennis Tao Yang, 2012. "Aggregate Savings and External Imbalances in China," Journal of Economic Perspectives, American Economic Association, vol. 26(4), pages 125-146, Fall.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Gindling,T. H. & Mossaad,Nadwa & Newhouse,David Locke, 2016. "Earnings premiums and penalties for self-employment and informal employees around the world," Policy Research Working Paper Series 7530, The World Bank.
    2. Mikkel Barslund & Lars Ludolph, 2019. "Could the decrease in Belgian government debt-servicing costs offset increased age-related expenditure?," Public Sector Economics, Institute of Public Finance, vol. 43(3), pages 225-246.
    3. Dennis Tao Yang & Junsen Zhang & Shaojie Zhou, 2012. "Why Are Saving Rates So High in China?," NBER Chapters, in: Capitalizing China, pages 249-278, National Bureau of Economic Research, Inc.
    4. Zhu, Guozhong & Dale-Johnson, David, 2020. "Transition to the property tax in China: A dynamic general equilibrium analysis," Journal of Urban Economics, Elsevier, vol. 115(C).

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    More about this item

    Keywords

    China; WTO accession; aggregate savings; current account; income distribution; trade policies;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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