Why Are Saving Rates So High in China?
Chapter in NBER book Capitalizing China (2013), Joseph Fan and Randall Morck, editors (p. 249 - 278)
This chapter examines the high savings rate in China, beginning with an overview of the major trends in Chinese national saving in the past three decades. Drawing data from the World Development Indicators, China's Flow of Funds Accounts, and other sources of aggregate statistics, it compares the aggregate saving in China with that of representative economies and major country groups. The chapter then considers the factors behind the rising savings of the government, corporate, and household sectors, focusing on the period of 1999 to 2007.
This paper was revised on May 30, 2014Why Are Saving Rates so High in China?, Dennis Tao Yang, Junsen Zhang, Shaojie Zhou
Commentary on this chapter: Comment, Leslie Young
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