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The Role of Rising Income Inequality for Higher Saving Rates in China
Xinhua Gu; Pui Sun Tam; Xiao Chang
2017
Conference Name2017 Chinese Economist Society Annual Conference in China
Source PublicationProceedings of 2017 Chinese Economist Society Annual Conference in China
Conference DateJune 10-11, 2017
Conference PlaceNanjing University, Nanjing, Jiangsu, China
Abstract

China's saving rate is found to be higher than the predictions of empirical estimations based on the conventional models of consumption. This problem has been recently admitted as arising from attention biased toward life-cycle saving by the household sector, yet saving by the corporate and public sectors may be more important in China. We argue that rising inequality in income distribution can be a main determinant of aggregate saving. As the apparent contributors to total savings, the three sectors interact with one another through the unequal distribution of national income in China. Our empirical evidence from panel data regression shows that the high and rising rate of China's national saving is indeed attributable to its worsening income inequality, while such savings glut also has some bearing on other economic, demographic, and institutional factors.

Language英语
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Document TypeConference paper
专题Faculty of Business Administration
DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
AffiliationUniversity of Macau
First Author AffilicationUniversity of Macau
推荐引用方式
GB/T 7714
Xinhua Gu,Pui Sun Tam,Xiao Chang. The Role of Rising Income Inequality for Higher Saving Rates in China[C],2017.
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