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The gWillh to Save in China


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  • Ting Yin

    (Institute of Social and Economic Research, Osaka University)

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In this paper, I discuss the actual conditions and determinants of the saving behavior and wealth holdings of the aged in China, with emphasis on the impact of bequest motives thereon, using micro data from the 2009 gSurvey of Living Preferences and Satisfactionh (urban households) and the 2010 gSurvey of Living Preferences and Satisfactionh (rural households), which were conducted in February 2009 and January 2010, respectively, as part of the Global Center of Excellence (GCOE) Program on gBehavioral Macro-dynamics based on Surveys and Experimentsh of the Graduate School of Economics and the Institute of Social and Economic Research of Osaka University. I found that bequest motives are strong in China, with more than 87 percent of respondents in urban areas, more than 75 percent in rural areas, and more than 85 percent in the country as a whole having a bequest motive, that these bequests are motivated primarily by altruism, that there is little evidence that aged households in China dissave (decumulate their wealth), and that altruistic and selfish bequest motives, especially the latter, increase the saving (or reduce the dissaving) of aged households.

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Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 11-24.

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Length: 52 pages
Date of creation: Aug 2011
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Handle: RePEc:osk:wpaper:1124

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Keywords: Bequest motives; saving behavior; wealth accumulation; life-cycle model; altruism model;

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  1. Horioka, Charles Yuji, 2010. "The (dis)saving behavior of the aged in Japan," Japan and the World Economy, Elsevier, vol. 22(3), pages 151-158, August.
  2. Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1986. "The Strategic Bequest Motive," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages S151-82, July.
  3. Ohtake, F. & Horioka, C.Y., 1995. "Saving Motives in Japan," ISER Discussion Paper 0392, Institute of Social and Economic Research, Osaka University.
  4. Ting Yin, 2009. "Parent-Child Co-residence and Bequest Motives in China," Discussion Papers in Economics and Business 09-26, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  5. repec:fth:osakae:392 is not listed on IDEAS
  6. Becker, Gary S, 1974. "A Theory of Social Interactions," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1063-93, Nov.-Dec..
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