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Bequest motives and the Chinese household saving puzzle

Author

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  • Cheng Tang
  • Cheng Zhang
  • Huaxia Yang

Abstract

This study analyses the phenomenon of the high saving rate of China’s households from the perspective of bequest motives based on the data of China Household Finance Survey (CHFS). The result shows that, like Japan, the bequest motives of China’s households have a significant positive effect on the family saving rate, especially on rural household savings, middle-wealth and low-wealth households, those whose children work outside of the government system and those whose children with low education, indicating that the bequest motives of China’s households are more altruistic. This provides a new understanding of the high savings of households in China and can provide a reference for future policy making.

Suggested Citation

  • Cheng Tang & Cheng Zhang & Huaxia Yang, 2022. "Bequest motives and the Chinese household saving puzzle," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 20(4), pages 355-376, October.
    • Handle: RePEc:taf:jocebs:v:20:y:2022:i:4:p:355-376
    DOI: 10.1080/14765284.2021.1996190
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