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Inequality and Saving: Further Evidence from Integrated Economies
Xinhua Gu1; Bihong Huang2; Pui Sun Tam3; Yang Zhang4
2015-02-01
Source PublicationReview of Development Economics
ISSN1363-6669
Volume19Issue:1Pages:15-30
Abstract

Renewed attention to inequality and saving has arisen owing to their pronounced implications for global imbalances and financial crises. We show that the relationship between saving and inequality is negative if savers' funds are borrowed by spending households for consumption as in the USA, but positive if saving is allocated through financial systems to investing firms for production as in China. This theoretical result is largely consistent with empirical evidence found from these two increasingly integrated economies and other related countries by estimating panel-data models. The policy implication is that inequality must be reduced in order to increase saving in the USA and other Organisation for Economic Co-operation and Development (OECD) countries and to boost consumption in China and other parts of emerging Asia.

DOIhttps://doi.org/10.1111/rode.12125
URLView the original
Indexed BySSCI
Language英语
WOS Research AreaDevelopment Studies ; Business & Economics
WOS SubjectDevelopment Studies ; Economics
WOS IDWOS:000348874700002
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Cited Times [WOS]:3   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionDEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Corresponding AuthorBihong Huang
Affiliation1.Faculty of Business Administration (E22-4052), University of Macau, Avenida da Universidade, Taipa, Macao
2.Faculty of Business Administration, University of Macau (E22-4067a), Avenida da Universidade, Taipa, Macao
3.Faculty of Business Administration, University of Macau (E22-4058), Avenida da Universidade, Taipa, Macao
4.Faculty of Business Administration, University of Macau (E22-4036), Avenida da Universidade, Taipa, Macao
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Xinhua Gu,Bihong Huang,Pui Sun Tam,et al. Inequality and Saving: Further Evidence from Integrated Economies[J]. Review of Development Economics,2015,19(1):15-30.
APA Xinhua Gu,Bihong Huang,Pui Sun Tam,&Yang Zhang.(2015).Inequality and Saving: Further Evidence from Integrated Economies.Review of Development Economics,19(1),15-30.
MLA Xinhua Gu,et al."Inequality and Saving: Further Evidence from Integrated Economies".Review of Development Economics 19.1(2015):15-30.
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