Is The Age Structure Of The Population One Of The Determinants Of The Household Saving Rate In China

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Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China?

Author : Jingwen Yin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China? by : Jingwen Yin

Download or read book Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China? written by Jingwen Yin and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we use provincial panel data on China for the 2002-19 period to conduct a spatial autocorrelation analysis of household saving rates as well as a dynamic panel analysis of the determinants of household saving rates using a spatial Durbin model. To summarize our main findings, we find that, in China, the household saving rate shows significant positive spatial autocorrelation with an overall "high-high" and "low-low" clustering pattern, that, as predicted by the life-cycle hypothesis, the youth dependency ratio and the old-age dependency ratio have a negative and significant impact on the household saving rate, and that the logarithm of per capita household disposable income, the regional economic growth rate, the share of the urban population, the industrialization rate, and the income disparity between urban and rural areas also have a significant impact on the household saving rate.

The Determinants of Household Saving in China

Author : Charles Horioka
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (769 download)

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Book Synopsis The Determinants of Household Saving in China by : Charles Horioka

Download or read book The Determinants of Household Saving in China written by Charles Horioka and published by . This book was released on 2006 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we conduct a dynamic panel analysis of the determinants of the household saving rate in China using a life cycle model and panel data on Chinese provinces for the 1995-2004 period from China's household survey. We find that China's household saving rate has been high and rising and that the main determinants of variations over time and over space therein are the lagged saving rate, the income growth rate, and (in some cases) the real interest rate and the inflation rate. However, we find that the variables relating to the age structure of the population usually do not have a significant impact on the household saving rate. These results provide mixed support for the life cycle hypothesis, are consistent with the existence of inertia or persistence, and imply that China's household saving rate will remain high for some time to come.

China’s Demography and its Implications

Author : Mr.Il Houng Lee
Publisher : International Monetary Fund
ISBN 13 : 1484391470
Total Pages : 27 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis China’s Demography and its Implications by : Mr.Il Houng Lee

Download or read book China’s Demography and its Implications written by Mr.Il Houng Lee and published by International Monetary Fund. This book was released on 2013-03-28 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In coming decades, China will undergo a notable demographic transformation, with its old-age dependency ratio doubling to 24 percent by 2030 and rising even more precipitously thereafter. This paper uses the permanent income hypothesis to reassess national savings behavior, with greater prominence and more careful consideration given to the role played by changing demography. We use a forward-looking and dynamic approach that considers the entire population distribution. We find that this not only holds up well empirically but may also be superior to the static dependency ratios typically employed in the literature. Going further, we simulate global savings behavior based on our framework and find that China’s demographics should have induced a negative current account in the 2000s and a positive one in the 2010s given the rising share of prime savers, only turning negative around 2045. The opposite is true for the United States and Western Europe. The observed divergence in current account outcomes from the simulated path appears to have been partly policy induced. Over the next couple of decades, individual countries’ convergence toward the simulated savings pattern will be influenced by their past divergences and future policy choices. Other implications arising from China’s demography, including the growth model, the pension system, the labor market, and the public finances are also briefly reviewed.

Income Uncertainty and Household Savings in China

Author : Mr.Marcos Chamon
Publisher : International Monetary Fund
ISBN 13 : 1455211702
Total Pages : 36 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Income Uncertainty and Household Savings in China by : Mr.Marcos Chamon

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.

Capitalizing China

Author : Joseph P. H. Fan
Publisher : University of Chicago Press
ISBN 13 : 0226237249
Total Pages : 401 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Capitalizing China by : Joseph P. H. Fan

Download or read book Capitalizing China written by Joseph P. H. Fan and published by University of Chicago Press. This book was released on 2013 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of "market socialism with Chinese characteristics." The Chinese Communist Party (CCP), by controlling the career advancement of all senior personnel in all regulatory agencies, all state-owned enterprises (SOEs), and virtually all major financial institutions state-owned enterprises (SOEs), and senior Party positions in all but the smallest non-SOE enterprises, retains sole possession of Lenin's Commanding Heights. The chapters in this volume examine China's high savings rate, banking system, financial markets, financial regulations, corporate governance, and public finances; and consider policy alternatives the CCP might consider if its goal is China's elevation into the ranks of high income countries."

China’s High Savings: Drivers, Prospects, and Policies

Author : Ms.Longmei Zhang
Publisher : International Monetary Fund
ISBN 13 : 1484391020
Total Pages : 38 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis China’s High Savings: Drivers, Prospects, and Policies by : Ms.Longmei Zhang

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.

Aging in China

Author : Sheying Chen
Publisher : Springer Science & Business Media
ISBN 13 : 1441983511
Total Pages : 288 pages
Book Rating : 4.4/5 (419 download)

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Book Synopsis Aging in China by : Sheying Chen

Download or read book Aging in China written by Sheying Chen and published by Springer Science & Business Media. This book was released on 2012-02-02 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: China, which is fast on its way to becoming the most powerful economic force in the world, has four unique characteristics that distinguish it from other countries in Asia: (1) The proportion of aging population is growing faster than that of Japan (the country previously recognized as having the fastest rate) and much faster than nations in western Europe. (2) An early arrival of an aging population before modernization has fully taken place, with social policy implications. It is certain that China will face a severely aged population before it has sufficient time and resources to establish an adequate social security and service system for older people. (3) There will be fluctuations in the total dependency ratio. The Chinese government estimates are that the country will reach a higher dependent burden earlier in the twenty-first century than was previously forecast. (4) The government’s fertility policy (single child per family) and its implementation has a strong influence on the aging process. Fewer children are being born, but with more elderly people a conflict arises between the objectives to limit population increase and yet maintain a balanced age structure (Peng and Guo 2001). The intersection of these fourfold factors means that the increased aging population is giving rise to serious concerns among Chinese social policy makers. There is a chronic lack of good resource materials that attempt to make sense of social policy in its relationship to examining the problems and possibilities of human aging grounded in an analysis of economic of social policy in China and impact on rural and urban spaces. Such analysis of China will be covered by conceptual, theoretical, and empirical approaches. The book will also discuss substantive topics of housing, community care, family care, pensions, and mental health. The book brings together a truly world class array of researchers to provide discussions of critical implications of aging social policy and the economic impact in China.

China, Asia, and the New World Economy

Author : Barry Eichengreen
Publisher : OUP Oxford
ISBN 13 : 0191647659
Total Pages : 428 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis China, Asia, and the New World Economy by : Barry Eichengreen

Download or read book China, Asia, and the New World Economy written by Barry Eichengreen and published by OUP Oxford. This book was released on 2008-02-21 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20 per cent in 1950, Asia's share of global GDP has now risen to 33 per cent and will exceed 40 per cent within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current multilateral system dominated by the WTO. This collection of original essays written by leading economists explores the likely impact of the rapid growth in the East Asian economies, and in particular China, on the world economy in the coming decades and the consequent challenges for the development of trade, macroeconomic, and environmental policy.

Targets, Interest Rates, and Household Saving in Urban China

Author : Mr.Malhar Nabar
Publisher : International Monetary Fund
ISBN 13 : 1463904258
Total Pages : 30 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis Targets, Interest Rates, and Household Saving in Urban China by : Mr.Malhar Nabar

Download or read book Targets, Interest Rates, and Household Saving in Urban China written by Mr.Malhar Nabar and published by International Monetary Fund. This book was released on 2011-10-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies a panel of China's provinces over the period 1996-2009 during which urban household saving rates increased from 19 percent of disposable income to 30 percent. It finds that the increase in urban saving rates is negatively associated with the decline in real interest rates over this period. This negative association suggests that Chinese households save with a target level of saving in mind. When the return to saving declines (increases), it becomes more difficult (easier) to meet a target and households increase (lower) their saving out of current disposable income to compensate. The results are robust across specifications and to the inclusion of additional variables. A main policy implication is that an increase in real deposit rates may help lower household saving and boost domestic consumption.

Implications of the Aging of China's Population

Author : Judith Banister
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Implications of the Aging of China's Population by : Judith Banister

Download or read book Implications of the Aging of China's Population written by Judith Banister and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Age Structure and Demographic Dividends

Author : Qingsong Yao
Publisher :
ISBN 13 :
Total Pages : 26 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Age Structure and Demographic Dividends by : Qingsong Yao

Download or read book Age Structure and Demographic Dividends written by Qingsong Yao and published by . This book was released on 2018 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract In this paper, we investigate how much Chinese households have contributed to China's economic growth between 1980 and 2015 from the perspective of age structure transitions. We first propose a theoretical framework for the quantification of the demographic dividends during an age structure transition. Then we utilize China's country-level data from 1980 to 2015 to quantitatively measure the economic growth rate that is driven by the demographic dividends. Empirical results indicate Chinese children generation possesses the strongest consumption capability, while the elderly has the weakest. Since China's children dependency ratio has been declining between 1980 and 2010 while the elderly dependency ratio increasing, Chinese age structure transitions lead to both the increase of labor supply and the households savings rate, positively contributing to China's economic growth in most of these years. Moreover, Chinese demographic dividends vanished in 2012, since when China has entered the periods of demographic burdens.

China's Road and Aging Population

Author : Yining Li
Publisher : Springer Nature
ISBN 13 : 9811988919
Total Pages : 395 pages
Book Rating : 4.8/5 (119 download)

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Book Synopsis China's Road and Aging Population by : Yining Li

Download or read book China's Road and Aging Population written by Yining Li and published by Springer Nature. This book was released on 2023-04-03 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the context of global population aging , the aging population of China is not only a China-specific problem but also a global concern. Based on in-depth analysis, this book focuses on the increasingly serious issue of aging population of China at the present time, and explores the possible path and solution from the new type of demographic dividend that is innovation. With 1/5 of the global aging population in the world, China has the largest aging population and is aging faster and deeper, which produces and , profound and far-reaching impact on the economic growth, social security, health care and other related areas.

The Economic Consequences of Demographic Change in East Asia

Author : Takatoshi Ito
Publisher : University of Chicago Press
ISBN 13 : 0226386880
Total Pages : 403 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis The Economic Consequences of Demographic Change in East Asia by : Takatoshi Ito

Download or read book The Economic Consequences of Demographic Change in East Asia written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2010-10-15 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies show that almost all industrial countries have experienced dramatic decreases in both fertility and mortality rates. This situation has led to aging societies with economies that suffer from both a decline in the working population and a rise in fiscal deficits linked to increased government spending. East Asia exemplifies these trends, and this volume offers an in-depth look at how long-term demographic transitions have taken shape there and how they have affected the economy in the region. The Economic Consequences of Demographic Change in East Asia assembles a group of experts to explore such topics as comparative demographic change, population aging, the rising cost of health care, and specific policy concerns in individual countries. The volume provides an overview of economic growth in East Asia as well as more specific studies on Japan, Korea, China, and Hong Kong. Offering important insights into the causes and consequences of this transition, this book will benefit students, researchers, and policy makers focused on East Asia as well as anyone concerned with similar trends elsewhere in the world.

Handbook of Research on Economic and Social Impacts of Population Aging

Author : Bayar, Yilmaz
Publisher : IGI Global
ISBN 13 : 1799873293
Total Pages : 383 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Handbook of Research on Economic and Social Impacts of Population Aging by : Bayar, Yilmaz

Download or read book Handbook of Research on Economic and Social Impacts of Population Aging written by Bayar, Yilmaz and published by IGI Global. This book was released on 2021-06-25 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increases in global wealth and the developments in the field of health have led to decreases in mortality rates, increases in life expectancy, and decreases in fertility rate, leading to a population that is rapidly consisting more and more of older individuals. The demographic changes affect nearly all parts of society including economics, education, health, social security systems, socio-cultural activities, and more. Thus, it is essential to study the impacts that an aging population will have on society. The Handbook of Research on Economic and Social Impacts of Population Aging analyzes the economic and social impacts of population aging from a multidisciplinary perspective. Covering topics such as life expectancy, social welfare, health, social security, and more, this book is essential for social scientists, sociologists, demographers, economists, medical professionals, government officials, policymakers, professionals, researchers, managers, students, and academicians looking to understand the effects of an aging population on modern society.

Urban and Rural Household Savings in China

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451920709
Total Pages : 46 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Urban and Rural Household Savings in China by : International Monetary Fund

Download or read book Urban and Rural Household Savings in China written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-03-18 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Household savings behavior in China during the past 30 years has been studied by using econometric models with the time-varying-parameter technique. The rural sector and the urban sector are investigated separately. In comparison to previous studies on the same subject, the estimated models of the current study are more robust, and the results of the models are much more in line with results of similar studies of other countries.

China’s Population Aging and the Risk of ‘Middle-income Trap’

Author : Xueyuan Tian
Publisher : Springer
ISBN 13 : 9811049416
Total Pages : 292 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis China’s Population Aging and the Risk of ‘Middle-income Trap’ by : Xueyuan Tian

Download or read book China’s Population Aging and the Risk of ‘Middle-income Trap’ written by Xueyuan Tian and published by Springer. This book was released on 2017-07-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book includes a series of reports that mainly discuss the Middle Income Trap against the backdrop of population ageing in China. It also offers practical suggestions on how to avoid it properly. Concretely, it argues that the government should accelerate the transition of economic development modes, resolve concentrated social conflicts, promote a balanced rural and urban development during the process of urbanization, and mitigate the effects of population ageing by fostering strengths and avoiding weaknesses. As for the challenges posed by population ageing in China, it puts forward five core suggestions tailored to China’s unique situation. Assessing a number of real-world challenges, the general report and the special reports combine theory and empirical findings, using primary data for their analyses. Given the wealth of essential information it provides, the book offers a valuable reference resource for decision-makers.

Global Linkages and Economic Rebalancing in East Asia

Author : Shigeyuki Hamori
Publisher : World Scientific
ISBN 13 : 9814412856
Total Pages : 234 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Global Linkages and Economic Rebalancing in East Asia by : Shigeyuki Hamori

Download or read book Global Linkages and Economic Rebalancing in East Asia written by Shigeyuki Hamori and published by World Scientific. This book was released on 2013 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the global financial crisis, leading industrialized countries have managed to show only a gradual recovery, while East Asian economies have surged ahead. In particular, China achieved growth in excess of 10% in 2010 and is expected to continue growing at a rapid pace. It appears that in the coming years, East Asia will play an even greater role as a growth center leading global economic expansion. Following the Asian currency crisis of 1997OCo98, consumption and investment in the region decreased considerably, and East Asian economies recovered on the strength of exports. Presently, however, amid a less-than-robust recovery in the US and Europe, the sustainability of East Asia''s reliance on export-led growth has been called into question. The region''s transition to growth based on a balance of foreign and domestic demand is important for both building a stronger foundation for sustainable growth and buttressing global economic expansion. Moreover, the rebalancing of demand in East Asia holds the key to rectifying global current account imbalances OCo the disadvantage of uneven international capital flows. This unique volume illuminates policy issues involved in the efforts to promote the rebalancing of demand in East Asia.