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Optimal Saving Rate and Its Influencing Factors Measurement under the International Field of Vision
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TitleOptimal Saving Rate and Its Influencing Factors Measurement under the International Field of Vision  
AuthorFan Zuojun, Huang Liqun and Chang Yali  
OrganizationBusiness College of Guangxi University; 
Key WordsNeoclassical economic growth model; The optimal saving rate ideal; Optimal savings; Principal component regression analysis 
AbstractBased on neoclassical economic growth model of Solow, this article studies the relationship between the optimal saving rate and the actual savings rate in 108 countries around the world with the help of Phelps's "Golden Rule Level". The results show that the optimal saving rate fluctuates up and down around the actual savings rate among the majority of countries. Considering the differences in national economic growth targets, this paper puts forward to the ideal optimal saving rate further which regards economic growth forecasts as the variable, and which can meet the national savings rate in the levels of economic development level. Finally, we analyze the various factors affecting the savings rate by using the principal component regression analysis, including the economic, institutional and structural factors, and find that these factors will also change as the change of internal and external conditions for the role of the saving rate. 
Serial NumberWP632 
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