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Author : Xu Lilai
Publisher :
ISBN 13 : 9787806187166
Total Pages : 339 pages
Book Rating : 4.1/5 (871 download)
Download or read book Financial Development and Mobilisation of Household Savings in China written by Xu Lilai and published by . This book was released on 2000 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lilai Xu
Publisher :
ISBN 13 :
Total Pages : 624 pages
Book Rating : 4.:/5 (222 download)
Download or read book Financial Development and Mobilisation of Household Savings in China written by Lilai Xu and published by . This book was released on 1997 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Marcos Chamon
Publisher : International Monetary Fund
ISBN 13 : 1455211702
Total Pages : 36 pages
Book Rating : 4.4/5 (552 download)
Download or read book Income Uncertainty and Household Savings in China written by Mr.Marcos Chamon and published by International Monetary Fund. This book was released on 2010-12-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-profile of savings.
Author : Ms.Longmei Zhang
Publisher : International Monetary Fund
ISBN 13 : 1484388771
Total Pages : 38 pages
Book Rating : 4.4/5 (843 download)
Download or read book China’s High Savings: Drivers, Prospects, and Policies written by Ms.Longmei Zhang and published by International Monetary Fund. This book was released on 2018-12-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Author : Xiaojun Huang
Publisher :
ISBN 13 :
Total Pages : 176 pages
Book Rating : 4.:/5 (418 download)
Download or read book China, Financial Development and Savings Mobilization written by Xiaojun Huang and published by . This book was released on 1992 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark J. Scher
Publisher : M.E. Sharpe
ISBN 13 : 9780765614834
Total Pages : 292 pages
Book Rating : 4.6/5 (148 download)
Download or read book Small Savings Mobilization and Asian Economic Development written by Mark J. Scher and published by M.E. Sharpe. This book was released on 2004 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Postal savings systems in Asian developing countries play a significant role in social and economic development. In many of these countries, and others around the world, postal savings and giro remittances are the only means of providing financial services to all segments of the population, particularly women, rural communities, and the urban poor. Postal savings in many countries also account for the largest share of individual and household savings among competing institutions. This book examines the postal financial systems of some twenty countries visited by the author, and also includes case studies by expert author from different developing nations. Among the topics covered are savings product development, investing mobilized funds, receiving overseas remittances, and utilizing financial technology.
Author : Zhang-Ming Boffa
Publisher :
ISBN 13 :
Total Pages : 474 pages
Book Rating : 4.:/5 (999 download)
Download or read book Cultural Influence on China's Household Saving written by Zhang-Ming Boffa and published by . This book was released on 2015 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The recession following the 2008 Global Financial Crisis highlighted the problem of deficient household saving and imprudent consumer credit. Studies of selected economies reveal that household saving tends to decline as economies move to higher stages of development. Following rapid economic growth, China's household saving, possibly due to the influence of traditional culture, has remained high by international standards while consumer credit levels are low. This significant phenomenon has prompted the question of what this development trajectory may become as China proceeds to higher income levels. Whereas the economic, social and financial development factors related to household saving and development have been well researched, from the perspective of this investigation, there are missing 'cultural values' in the analysis. Consequently, the Institutional Economics concept of 'culture as a value' provides the basis for this thesis into the influence of culture on China's household saving and its effects. By extending Keynes's General Theory in relation to saving, and incorporating studies from both the Chinese and Western scholarly traditions, five themes are identified as influencing the cultural preferences of China's household saving. These are: (i) precautionary motives; (ii) habit formation; (iii) children's education; (iv) consumer credit; and (v) teaching thrift. The holistic approach of this study has allowed a deeper understanding of the role of cultural values on agency and structure in economic events and their subsequent impact on household saving. Results of this investigation indicate that the Confucian value of family ties and 'Zhong Yong' - the Golden Mean, which translates essentially as balance, enable Chinese households to save. This development has highlighted a growing tension, in China's modernity process, between the traditional Confucian value of thrift and the Western cultural influence of stimulating economic growth by consumption. After consideration of current saving practices and the anticipation of economic changes, this research advocates the striking of a balance between household saving and increasing consumption in China in order to avert a future financial crisis and to facilitate economic growth. The implication of this research is that finding a balance between household saving and consumption is crucial to sustainable future development in China as it shifts its development focus from investment and export-led to domestic consumption-driven growth and social development." -- Abstract.
Author : G. Mavrotas
Publisher : Springer
ISBN 13 : 0230594018
Total Pages : 306 pages
Book Rating : 4.2/5 (35 download)
Download or read book Domestic Resource Mobilization and Financial Development written by G. Mavrotas and published by Springer. This book was released on 2008-03-27 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides insights into the evolving debate regarding the mobilization of domestic resources and the crucial role that financial development can and should play in this regard, exploring aspects of the financial development–domestic resource mobilization nexus, including country case studies.
Author : Marcos Chamon
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (13 download)
Download or read book Income Uncertainty and Household Savings in China written by Marcos Chamon and published by . This book was released on 2015 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped during the 2000s. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-saving profile.
Author : Yvonne Chen
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (13 download)
Download or read book Confucianism, Social Norms and Household Savings Rates in China written by Yvonne Chen and published by . This book was released on 2017 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effect of (declining) Confucian social norms on human capital investment and savings rates in China. In our simple two-period model, parents have the option to invest in either a risk-free asset or the human capital of their child. We assume that social norms, and thus enforcement mechanisms, for supporting old-age parents may differ across regions. Consequently, these cultural norms for acceptable filial piety determine the probability of children's non-performance on their repayment obligations to parents, which in turn affects the variation in returns that parents can expect from investing in their children. Modeling default by children as a function of the prevailing social norms gives us the flexibility to study the impact of the declining Confucian influence on China's consumption-saving trends. Using data from the China Household Finance Survey, this paper adds to the current literature in several ways. First, we provide evidence to support the key assumption in the life-cycle hypothesis in Modigliani and Cao [2004] that parents view their children, especially sons, as a source of retirement income. Thus, parents' investment in children's human capital is not altruistic; nor are intergenerational transfers from adult children to old-age parents. Second, we offer an alternative explanation for high household savings in China. In addition to the One Child Policy and the gender imbalance-induced pressure to save more, the lack of financial development and the declining influence of Confucianism are also significant contributors to China's rising savings rates.
Author : David Dollar
Publisher : Brookings Institution Press
ISBN 13 : 0815738064
Total Pages : 444 pages
Book Rating : 4.8/5 (157 download)
Download or read book China 2049 written by David Dollar and published by Brookings Institution Press. This book was released on 2020-06-09 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.
Author : Marlene Amstad
Publisher : Princeton University Press
ISBN 13 : 0691205841
Total Pages : 504 pages
Book Rating : 4.6/5 (912 download)
Download or read book The Handbook of China's Financial System written by Marlene Amstad and published by Princeton University Press. This book was released on 2020-11-17 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, in-depth, and authoritative guide to China's financial system The Chinese economy is one of the most important in the world, and its success is driven in large part by its financial system. Though closely scrutinized, this system is poorly understood and vastly different than those in the West. The Handbook of China’s Financial System will serve as a standard reference guide and invaluable resource to the workings of this critical institution. The handbook looks in depth at the central aspects of the system, including banking, bonds, the stock market, asset management, the pension system, and financial technology. Each chapter is written by leading experts in the field, and the contributors represent a unique mix of scholars and policymakers, many with firsthand knowledge of setting and carrying out Chinese financial policy. The first authoritative volume on China’s financial system, this handbook sheds new light on how it developed, how it works, and the prospects and direction of significant reforms to come. Contributors include Franklin Allen, Marlene Amstad, Kaiji Chen, Tuo Deng, Hanming Fang, Jin Feng, Tingting Ge, Kai Guo, Zhiguo He, Yiping Huang, Zhaojun Huang, Ningxin Jiang, Wenxi Jiang, Chang Liu, Jun Ma, Yanliang Mao, Fan Qi, Jun Qian, Chenyu Shan, Guofeng Sun, Xuan Tian, Chu Wang, Cong Wang, Tao Wang, Wei Xiong, Yi Xiong, Tao Zha, Bohui Zhang, Tianyu Zhang, Zhiwei Zhang, Ye Zhao, and Julie Lei Zhu.
Author : International Monetary Fund. Monetary and Financial Systems Dept.
Publisher : International Monetary Fund
ISBN 13 : 1484308395
Total Pages : 139 pages
Book Rating : 4.4/5 (843 download)
Download or read book Global Financial Stability Report, October 2017 written by International Monetary Fund. Monetary and Financial Systems Dept. and published by International Monetary Fund. This book was released on 2017-10-11 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2017 Global Financial Stability Report finds that the global financial system continues to strengthen in response to extraordinary policy support, regulatory enhancements, and the cyclical upturn in growth. It also includes a chapter that examines the short- and medium-term implications for economic growth and financial stability of the past decades’ rise in household debt. It documents large differences in household debt-to-GDP ratios across countries but a common increasing trajectory that was moderated but not reversed by the global financial crisis. Another chapter develops a new macroeconomic measure of financial stability by linking financial conditions to the probability distribution of future GDP growth and applies it to a set of 20 major advanced and emerging market economies. The chapter shows that changes in financial conditions shift the whole distribution of future GDP growth.
Author : Maddison Angus
Publisher : OECD Publishing
ISBN 13 : 9264163557
Total Pages : 196 pages
Book Rating : 4.2/5 (641 download)
Download or read book Development Centre Studies Chinese Economic Performance in the Long Run written by Maddison Angus and published by OECD Publishing. This book was released on 1998-09-25 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study provides a major reassessment of the scale and scope of China’s resurgence over the past half century, employing quantitative measurement techniques which are standard practice in OECD countries, but which have not hitherto been available for China.
Author : Robert P. Taylor
Publisher : World Bank Publications
ISBN 13 : 0821373056
Total Pages : 306 pages
Book Rating : 4.8/5 (213 download)
Download or read book Financing Energy Efficiency written by Robert P. Taylor and published by World Bank Publications. This book was released on 2008-02-08 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: While energy efficiency projects could partly meet new energy demand more cheaply than new supplies, weak economic institutions in developing and transitional economies impede developing and financing energy efficiency retrofits. This book analyzes these difficulties, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.
Author : Mr.Bernard Laurens
Publisher : International Monetary Fund
ISBN 13 : 9781557755629
Total Pages : 108 pages
Book Rating : 4.7/5 (556 download)
Download or read book Monetary and Exchange System Reforms in China written by Mr.Bernard Laurens and published by International Monetary Fund. This book was released on 1996-09-26 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1978, China embarked on a gradual but far-reaching reform of its economic system. This paper focuses on the achievements so far in reforming the financial sector, the legal framework for financial transactions, the payments system, and the monetary policy and foreign exchange system. It also analyzes the tasks ahead to achieve the goals set in these areas for the year 2000.
Author : Development Research Center of the State Council
Publisher :
ISBN 13 : 9781464813351
Total Pages : 0 pages
Book Rating : 4.8/5 (133 download)
Download or read book Innovative China written by Development Research Center of the State Council and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: After more than three decades of average annual growth close to 10 percent, China's economy is transitioning to a 'new normal' of slower but more balanced and sustainable growth. Its old drivers of growth -- a growing labor force, the migration from rural areas to cities, high levels of investments, and expanding exports -- are waning or having less impact. China's policymakers are well aware that the country needs new drivers of growth. This report proposes a reform agenda that emphasizes productivity and innovation to help policymakers promote China's future growth and achieve their vision of a modern and innovative China. The reform agenda is based on the three D's: removing Distortions to strengthen market competition and enhance the efficient allocation of resources in the economy; accelerating Diffusion of advanced technologies and management practices in China's economy, taking advantage of the large remaining potential for catch-up growth; and fostering Discovery and nurturing China's competitive and innovative capacity as China approaches OECD incomes in the decades ahead and extends the global innovation and technology frontier.
