Why Is China's Saving Rate So High? A Comparative Study of Cross-Country Panel Data: Working Paper 2010-07

Juann H. Hung and Rong Qian ()

No 21920, Working Papers from Congressional Budget Office

Abstract: This paper uses a large cross-country panel dataset to estimate models of national saving rates and addresses two related issues. First, to what extent can China’s saving rate be explained by models of saving rates? Second, what are the factors responsible for China’s extraordinarily high saving rates? We find that our benchmark models explain about 72 to 76 percent of China’s national saving rate during 1990-2007, depending on whether China is included in the dataset. China’s national saving rate during that period is higher than the predictions of those

Date: 2010-11-18
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