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Comparable Household Saving Rates For China And The United States

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  • Xiao Qin
  • Ruoen Ren

Abstract

This paper focuses on how the household saving rate should be measured. The current method used in China to measure the saving rate is compared with that used in the U.S. Significant differences in concept and scope are discovered. Using these differences as a basis, we make relevant adjustments to the official measurement and recalculate the household saving rates of the two countries on a comparative scale. Our results show that the average of the Chinese household saving rate during the 1992–2004 period falls from 29.4 to 22.9 percent, and is lower than 20 percent in 2000, 2001, and 2003. The gap between China's household saving rate and that of the U.S. narrows by 8.6 percent on average and the adjusted difference is merely 17.5 percent on a comparable scale. It is therefore reasonable to conclude that the difference between the household saving rates of these two countries is in fact much smaller than is often suggested. Our study also shows that the household saving rates of these two countries are experiencing the same decreasing trend, but that both have increased slightly since 2002.

Suggested Citation

  • Xiao Qin & Ruoen Ren, 2008. "Comparable Household Saving Rates For China And The United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(4), pages 656-670, December.
    • Handle: RePEc:bla:revinw:v:54:y:2008:i:4:p:656-670
    DOI: 10.1111/j.1475-4991.2008.00294.x
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    Cited by:

    1. Li Liao & Nuonan Huang & Rui Yao, 2010. "Family Finances in Urban China: Evidence from a National Survey," Journal of Family and Economic Issues, Springer, vol. 31(3), pages 259-279, September.
    2. Rui Yao & Yilan Xu, 2015. "Chinese Urban Households’ Security Market Participation: Does Investment Knowledge and Having a Long-Term Plan Help?," Journal of Family and Economic Issues, Springer, vol. 36(3), pages 328-339, September.
    3. Rui Yao & Jing Xiao & Li Liao, 2015. "Effects of Age on Saving Motives of Chinese Urban Consumers," Journal of Family and Economic Issues, Springer, vol. 36(2), pages 224-238, June.

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