The Resource China's high saving rate : myth and reality, by Guonan Ma and Wang Yi

China's high saving rate : myth and reality, by Guonan Ma and Wang Yi

Label
China's high saving rate : myth and reality
Title
China's high saving rate
Title remainder
myth and reality
Statement of responsibility
by Guonan Ma and Wang Yi
Creator
Contributor
Subject
Language
eng
Summary
The saving rate of China is high from many perspectives - historical experience, international standards and the predictions of economic models. Furthermore, the average saving rate has been rising over time, with much of the increase taking place in the 2000s, so that the aggregate marginal propensity to save exceeds 50%. What really sets China apart from the rest of the world is that the rising aggregate saving has reflected high savings rates in all three sectors - corporate, household and government. Moreover, adjusting for inflation alters interpretations of the time path of the propensity to save in the three sectors. Our evidence casts doubt on the proposition that distortions and subsidies account for China's rising corporate profits and high saving rate. Instead, we argue that tough corporate restructuring (including pension and home ownership reforms), a marked Lewis-model transformation process (where the average wage exceeds the marginal product of labour in the subsistence sector) and rapid ageing process have all played more important roles. While such structural factors suggest that the Chinese saving rate will peak in the medium term, policies for job creation and a stronger social safety net would assist the transition to more balanced domestic demand
Member of
Cataloging source
AU@
http://library.link/vocab/creatorName
Ma, Guonan
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Yi, Wang
  • Bank for International Settlements
Series statement
BIS working papers,
Series volume
no. 312
http://library.link/vocab/subjectName
  • Saving and investment
  • China
Label
China's high saving rate : myth and reality, by Guonan Ma and Wang Yi
Instantiates
Publication
Note
"June 2010"
Bibliography note
Includes bibliographical references (p. 26-29)
Control code
ocn661948442
Dimensions
30 cm
Extent
29 p.
Other physical details
ill.
System control number
(OCoLC)661948442
Label
China's high saving rate : myth and reality, by Guonan Ma and Wang Yi
Publication
Note
"June 2010"
Bibliography note
Includes bibliographical references (p. 26-29)
Control code
ocn661948442
Dimensions
30 cm
Extent
29 p.
Other physical details
ill.
System control number
(OCoLC)661948442

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