The gWillh to Save in China
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.
|Date of creation:||Aug 2011|
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