Counterintuitive facts regarding household saving in China: the saving glut

Kevin Luo () and Tomoko Kinugasa ()
Additional contact information
Kevin Luo: Graduate School of Economics, Kobe University
Tomoko Kinugasa: Graduate School of Economics, Kobe University

No 1815, Discussion Papers from Graduate School of Economics, Kobe University

Abstract: This study begins by confirming that China has been in a state of overaccumulation over the past decade. Against this backdrop, we empirically investigate the underlying determinants of Chinese household saving, and present both intuitive and distinct insights. Considering that overaccumulation has become a major threat to China's economic performance, we find that certain policies and phenomena, which are usually regarded as positive factors (e.g., the SOE reform), are primarily responsible for China's excess saving, and those usually deemed to be negative factors (e.g., the real estate bubble), have essentially mitigated the surplus saving.

Keywords: China; Household saving; Over-accumulation; GMM estimator; Policy design (search for similar items in EconPapers)
JEL-codes: C33 D12 E21 G28 (search for similar items in EconPapers)
Pages: 45 pages
Date: 2018-04
New Economics Papers: this item is included in nep-cna, nep-fdg, nep-mac and nep-tra
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.econ.kobe-u.ac.jp/RePEc/koe/wpaper/2018/1815.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.econ.kobe-u.ac.jp:443 (Bad file descriptor) (http://www.econ.kobe-u.ac.jp/RePEc/koe/wpaper/2018/1815.pdf [301 Moved Permanently]--> https://www.econ.kobe-u.ac.jp/RePEc/koe/wpaper/2018/1815.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:koe:wpaper:1815

Access Statistics for this paper

More papers in Discussion Papers from Graduate School of Economics, Kobe University Contact information at EDIRC.
Bibliographic data for series maintained by Kimiaki Shirahama ( this e-mail address is bad, please contact ).