An Analysis and Estimate on the Determination Mechanism of National Saving Rate...
Read
DownLoad |
| Title | An Analysis and Estimate on the Determination Mechanism of National Saving Rate...
|
| Author | LI Jun |
| Organization | Institute of Quantitative & Technical Economics, Chinese Academy of Social Sciences |
| Email | junli@cass.org.cn |
| Key Words | Saving Rate；National Saving Rate；Determination Mechanism；Chinese Saving Puzzle |
| Abstract | This paper mainly focuses on analyzing the determination mechanism of national saving from the both side of production and consumption; derives a formula linking the national saving rate among per capita capital, labor and depreciation; estimates the real level of Chinese national saving rate and the contribution ratio of production factors to the Chinese national saving rate. Some conclusions are as follows: First, it is necessary to explain the phenomenon of China's high savings rate by exploring the producer’s behavior, not only by the consumer’s behavior. Second, national saving is an endogenous variable so that it can not be determined only by the policies of increasing consumption. Third, no mater how to choose the behavior by consumers, national saving rate can be changed by the economic policies such as monetary and fiscal policies. There are two major determinants to cause the high level of national saving rate in China: One is the Chinese demographic structure which the labor ratio has been continued to rise during the past time, other one is the economic polices which cause to fast growth of investment. |
| Serial Number | WP124 |
| Time | 2011-10-27 |
|