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National savings rate and sectoral income distribution: An empirical look at China
Xiao Chang1; Tongliang An2; Pui Sun Tam3; Xinhua Gu3
2019-01-11
Source PublicationChina Economic Review
ISSN1043-951X
Abstract

China's saving rate is found to be higher than predictions of empirical estimations based on conventional models of consumption. This problem has been recently admitted as arising from research attention biased towards household saving, yet savings by the corporate and public sectors (termed the non-household sector) may be more important in China. We find strong evidence that the biased distribution of national income towards the non-household sector is a key determinant of high aggregate saving in China, with this situation reinforced by its huge surplus labor. Such a sectoral perspective, albeit useful for elucidating Chinese savings, was previously used in descriptive discussions. This perspective is formally taken into account in our empirical study generating significant findings. We also show that high Chinese savings have more or less to do with other economic, demographic, and institutional factors as identified in the literature.

KeywordChina Sectoral Income Distribution Sectoral Saving Propensity Sectoral And National Saving Rates
DOIhttps://doi.org/10.1016/j.chieco.2019.01.002
Language英语
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Document TypeJournal article
CollectionFaculty of Business Administration
DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
Corresponding AuthorXiao Chang
Affiliation1.United International College, Beijing Normal University-Hong Kong Baptist University, Zhuhai, China
2.Business School, Nanjing University, Nanjing, China
3.Faculty of Business Administration, University of Macau, Macao, China
Recommended Citation
GB/T 7714
Xiao Chang,Tongliang An,Pui Sun Tam,et al. National savings rate and sectoral income distribution: An empirical look at China[J]. China Economic Review,2019.
APA Xiao Chang,Tongliang An,Pui Sun Tam,&Xinhua Gu.(2019).National savings rate and sectoral income distribution: An empirical look at China.China Economic Review.
MLA Xiao Chang,et al."National savings rate and sectoral income distribution: An empirical look at China".China Economic Review (2019).
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