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Why are saving rates in East Asia so high? Reviving the life cycle hypothesis

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Author Info
F. Gerard Adams
Peter A. Prazmowski

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Abstract

Why are saving rates in the East Asian countries so high? This paper represents an attempt to provide an explanation in terms of rapid income growth rates linked to the life cycle hypothesis under the modification that consumption standards rise as income does, and that they continue to rise well beyond the consumer's retirement age. Empirical tests support the relationship between saving rates and growth implied by the theory. This approach goes a long way toward explaining high saving rates in East Asia. Copyright Springer-Verlag Berlin Heidelberg 2003

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File URL: http://hdl.handle.net/10.1007/s001810200130
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Publisher Info
Article provided by Springer in its journal Empirical Economics.

Volume (Year): 28 (2003)
Issue (Month): 2 (04)
Pages: 275-289
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Handle: RePEc:spr:empeco:v:28:y:2003:i:2:p:275-289

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Related research
Keywords: Key words: Life Cycles; Saving; Growth; Relative Income.; JEL classification: G11;

Cited by:
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  1. F. Gerard Adams & Byron Gangnes, 2000. "Will Japan's Current Account Turn to Deficit?," Working Papers 200010, University of Hawaii at Manoa, Department of Economics. [Downloadable!]
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This page was last updated on 2009-11-7.

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