Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China? A Spatial Panel Analysis of Provincial Data

Jingwen Yin and Charles Yuji Horioka
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Jingwen Yin: Graduate School of Economics, Kobe University, JAPAN
Charles Yuji Horioka: Research Institute for Economics and Business Administration, Kobe University, Asian Growth Research Institute, Institute of Social and Economic Research, Osaka University, Institute of Economic Research, Kyoto University, National Bureau of Economic Research, JAPAN

No DP2022-05, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: 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.

Keywords: Age structure of the population; China; Dependency ratio; Household saving rate; Life-cycle hypothesis or model; Old-age dependency ratio; Spatial autocorrelation; Spatial Durbin model; Youth dependency ratio (search for similar items in EconPapers)
JEL-codes: D14 D15 E21 G51 J11 O16 R20 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2022-03
New Economics Papers: this item is included in nep-ban, nep-cna, nep-mac and nep-ure
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https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/DP2022-05.pdf First version, 2022 (application/pdf)

Related works:
Working Paper: Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China? A Spatial Panel Analysis of Provincial Data (2022)
Working Paper: Is the Age Structure of the Population One of the Determinants of the Household Saving Rate in China? A Spatial Panel Analysis of Provincial Data (2022)
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