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The Role of Household Saving in the Economic Rise of China

Author

Listed:
  • Steven Lugauer

    (University of Notre Dame)

  • Nelson C. Mark

    (University of Notre Dame and National Bureau of Economic Research and Hong Kong Institute for Monetary Research)

Abstract

The saving rate in China is high by historical and international norms. The high saving rate has funded capital accumulation which in turn has been the primary driver of China's economic growth. We review the evidence on Chinese household saving and conduct a small study to assess the importance of the precautionary motive for saving.

Suggested Citation

  • Steven Lugauer & Nelson C. Mark, 2013. "The Role of Household Saving in the Economic Rise of China," Working Papers 042013, Hong Kong Institute for Monetary Research.
  • Handle: RePEc:hkm:wpaper:042013
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    File URL: http://www.hkimr.org/uploads/publication/349/wp-no-04_2013-final-.pdf
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    References listed on IDEAS

    as
    1. Franco Modigliani & Shi Larry Cao, 2004. "The Chinese Saving Puzzle and the Life-Cycle Hypothesis," Journal of Economic Literature, American Economic Association, vol. 42(1), pages 145-170, March.
    2. Charles Yuji Horioka & Junmin Wan, 2007. "The Determinants of Household Saving in China: A Dynamic Panel Analysis of Provincial Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 2077-2096, December.
    3. Chadwick C. Curtis & Steven Lugauer & Nelson C. Mark, 2015. "Demographic Patterns and Household Saving in China," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(2), pages 58-94, April.
    4. Carlos D. Ramirez & Rong Rong, 2012. "China Bashing: Does Trade Drive the “Bad” News about China in the USA?," Review of International Economics, Wiley Blackwell, vol. 20(2), pages 350-363, May.
    5. Christopher D. Carroll, 1997. "Buffer-Stock Saving and the Life Cycle/Permanent Income Hypothesis," The Quarterly Journal of Economics, Oxford University Press, vol. 112(1), pages 1-55.
    6. Wei Dong, 2007. "Expenditure-Switching Effect and the Choice of Exchange Rate Regime," Staff Working Papers 07-54, Bank of Canada.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Chan, Kenneth S. & Lai, Jennifer T. & Yan, Isabel K.M., 2014. "Consumption risk sharing and self-insurance across provinces in China: 1952–2008," China Economic Review, Elsevier, vol. 30(C), pages 66-85.
    2. Che-cheong Poon & Tai-Yuen Hon, 2015. "Household Savings in Hong Kong: A Statistical Analysis," Journal of Family and Economic Issues, Springer, vol. 36(3), pages 353-368, September.
    3. Steven Lugauer & Jinlan Ni & Zhichao Yin, 2014. "Micro-Data Evidence on Family Size and Chinese Saving Rates," Working Papers 023, University of Notre Dame, Department of Economics, revised Jun 2014.

    More about this item

    Keywords

    Household Saving; Precautionary Motive; China;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission

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