The Chinese Saving Rate: Productivity, Old-Age Support, and Demographics

Kai Zhao and Ayse Imrohoroglu

No 177, 2016 Meeting Papers from Society for Economic Dynamics

Abstract: In this paper, we show that a general equilibrium model that properly captures the role of family support, changes in demographics and the productivity growth rate is capable of generating changes in the national saving rate in China that mimic the data well. Our results suggest that most of the increase in the saving rate between 1980 and 2010 is due to the interaction between the decline in the fertility rate due to the one-child policy and the shortcomings of the old-age support programs, especially against the long-term care risks, provided by the government in China.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed016:177

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