Understanding the Rural and Urban Household Saving Rise in China PDF Download
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Author: Yao Pan
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper analyzes the different factors that drive saving rate rises of both rural and urban households in China. Using data from the Chinese Household Income Project 1995 and 2002, I first show that the whole saving rate distribution shifts up for both rural and urban households. The shift, however, differs between rural and urban households and is heterogeneous across the distribution: while rural saving increased the most at lower percentiles, urban saving experienced a larger shift at higher percentiles. Moreover, decomposition in the saving distribution shows that most of the increase in the rural saving rate is due to rising income. In contrast, only a small portion of the increase in the urban saving rate can be explained by changes in household characteristics including income. The rising urban saving rates are instead explained by changes in quantile regression coefficients over time, especially at the top of the saving distribution.
Author: Yao Pan
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper analyzes the different factors that drive saving rate rises of both rural and urban households in China. Using data from the Chinese Household Income Project 1995 and 2002, I first show that the whole saving rate distribution shifts up for both rural and urban households. The shift, however, differs between rural and urban households and is heterogeneous across the distribution: while rural saving increased the most at lower percentiles, urban saving experienced a larger shift at higher percentiles. Moreover, decomposition in the saving distribution shows that most of the increase in the rural saving rate is due to rising income. In contrast, only a small portion of the increase in the urban saving rate can be explained by changes in household characteristics including income. The rising urban saving rates are instead explained by changes in quantile regression coefficients over time, especially at the top of the saving distribution.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451920709
Category : Business & Economics
Languages : en
Pages : 46
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Book Description
Household savings behavior in China during the past 30 years has been studied by using econometric models with the time-varying-parameter technique. The rural sector and the urban sector are investigated separately. In comparison to previous studies on the same subject, the estimated models of the current study are more robust, and the results of the models are much more in line with results of similar studies of other countries.
Author: Mr.Malhar Nabar
Publisher: International Monetary Fund
ISBN: 1463904258
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
This paper studies a panel of China's provinces over the period 1996-2009 during which urban household saving rates increased from 19 percent of disposable income to 30 percent. It finds that the increase in urban saving rates is negatively associated with the decline in real interest rates over this period. This negative association suggests that Chinese households save with a target level of saving in mind. When the return to saving declines (increases), it becomes more difficult (easier) to meet a target and households increase (lower) their saving out of current disposable income to compensate. The results are robust across specifications and to the inclusion of additional variables. A main policy implication is that an increase in real deposit rates may help lower household saving and boost domestic consumption.
Author: Marcos Chamon
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451870039
Category :
Languages : en
Pages : 49
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Book Description
From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to ¼ of disposable income. We use household-level data to explain the postponing of consumption despite rapid income growth. Tracing cohorts over time indicates virtually no consumption smoothing over the life cycle. Saving rates have increased across all demographic groups, although the age-profile of savings has an unusual U-shaped pattern, with saving rates being the highest among the youngest and oldest households in recent years. These patterns are best explained by the rising private burden of expenditures on housing, education, and health care.
Author: Marcos Chamon
Publisher:
ISBN:
Category :
Languages : en
Pages : 54
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Book Description
From 1995 to 2005, the average urban household saving rate in China rose by 7 percentage points, to about one quarter of disposable income. We use household-level data to explain why households are postponing consumption despite rapid income growth. Tracing cohorts over time indicates a virtual absence of consumption smoothing over the life cycle. Saving rates have increased across all demographic groups although the age profile of savings has an unusual pattern in recent years, with younger and older households having relatively high saving rates. We argue that these patterns are best explained by the rising private burden of expenditures on housing, education, and health care. These effects and precautionary motives may have been amplified by financial underdevelopment, as reflected in constraints on borrowing against future income and low returns on financial assets.
Author: Guodong Mu
Publisher:
ISBN:
Category : Home economics
Languages : en
Pages : 832
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Book Description
Author: Scott Rozelle
Publisher: University of Chicago Press
ISBN: 022674051X
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
A study of how China’s changing economy may leave its rural communities in the dust and launch a political and economic disaster. As the glittering skyline in Shanghai seemingly attests, China has quickly transformed itself from a place of stark poverty into a modern, urban, technologically savvy economic powerhouse. But as Scott Rozelle and Natalie Hell show in Invisible China, the truth is much more complicated and might be a serious cause for concern. China’s growth has relied heavily on unskilled labor. Most of the workers who have fueled the country’s rise come from rural villages and have never been to high school. While this national growth strategy has been effective for three decades, the unskilled wage rate is finally rising, inducing companies inside China to automate at an unprecedented rate and triggering an exodus of companies seeking cheaper labor in other countries. Ten years ago, almost every product for sale in an American Walmart was made in China. Today, that is no longer the case. With the changing demand for labor, China seems to have no good back-up plan. For all of its investment in physical infrastructure, for decades China failed to invest enough in its people. Recent progress may come too late. Drawing on extensive surveys on the ground in China, Rozelle and Hell reveal that while China may be the second-largest economy in the world, its labor force has one of the lowest levels of education of any comparable country. Over half of China’s population—as well as a vast majority of its children—are from rural areas. Their low levels of basic education may leave many unable to find work in the formal workplace as China’s economy changes and manufacturing jobs move elsewhere. In Invisible China, Rozelle and Hell speak not only to an urgent humanitarian concern but also a potential economic crisis that could upend economies and foreign relations around the globe. If too many are left structurally unemployable, the implications both inside and outside of China could be serious. Understanding the situation in China today is essential if we are to avoid a potential crisis of international proportions. This book is an urgent and timely call to action that should be read by economists, policymakers, the business community, and general readers alike. Praise for Invisible China “Stunningly researched.” —TheEconomist, Best Books of the Year (UK) “Invisible China sounds a wake-up call.” —The Strategist “Not to be missed.” —Times Literary Supplement (UK) “[Invisible China] provides an extensive coverage of problems for China in the sphere of human capital development . . . the book is rich in content and is not constrained only to China, but provides important parallels with past and present developments in other countries.” —Journal of Chinese Political Science
Author: Ms.Longmei Zhang
Publisher: International Monetary Fund
ISBN: 1484388771
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Author: Ms.Longmei Zhang
Publisher: International Monetary Fund
ISBN: 1484391020
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Author: Martin K. Whyte
Publisher: Harvard University Press
ISBN: 9780674036307
Category : History
Languages : en
Pages : 462
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Book Description
"A collection of essays that analyzes China's foremost social cleavage: the rural-urban gap. It examines the historical background of rural-urban relations; the size and trend in the income gap between rural and urban residents; aspects of inequality apart from income; and, experiences of discrimination, particularly among urban migrants." -- BOOK PUBLISHER WEBSITE.
