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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 for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp7223
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    File URL: http://ftp.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.
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    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. Barslund, Mikkel & Ludolph, Lars, 2017. "Could the decrease in Belgian government debt-servicing costs offset increased age-related expenditure?," CEPS Papers 12598, Centre for European Policy Studies.

    More about this item

    Keywords

    China; WTO accession; aggregate savings; current account; income distribution; trade policies;

    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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