Why Are Saving Rates So High in China?
Chapter in NBER book Capitalizing China (2013), Joseph P. H. Fan and Randall Morck, editors (p. 249 - 278)
---- Acknowledgements -----
Shaojie Zhou would like to acknowledge the financial support from the National Natural Science Foundation of China (Project No. 70903039), and Humanities and Social Sciences Research Foundation of Minister of Education of China (Project No. 09YJC790162).
Dennis Tao Yang would like to acknowledge the financial support from the Research Grants Council of the Hong Kong Special Administrative Region, China (Project No. CUHK 453008). He is also grateful to the research support provided by Hong Kong Institute of Monetary Research, where much research was done when he served as a Research Fellow.
---- Disclosure of Financial Relationships for Junsen Zhang -----
Junsen Zhang thanks the partial financial support from the Natural Science Foundation of China (Project No. 70933001).