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

Author

Listed:
  • Kai Zhao

    (University of Connecticut)

  • Ayse Imrohoroglu

    (USC)

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.

Suggested Citation

  • Kai Zhao & Ayse Imrohoroglu, 2016. "The Chinese Saving Rate: Productivity, Old-Age Support, and Demographics," 2016 Meeting Papers 177, Society for Economic Dynamics.
    • Handle: RePEc:red:sed016:177
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    Cited by:

    1. Andrés Fernández & Ayşe İmrohoroğlu & Cesar E. Tamayo, 2019. "Saving Rates in Latin America: A Neoclassical Perspective," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(4), pages 791-823, December.
    2. Chen, Yi & Huang, Yingfei, 2018. "The Power of the Government: China's Family Planning Leading. Group and the Fertility Decline since 1970," GLO Discussion Paper Series 204, Global Labor Organization (GLO).
    3. İmrohoroğlu, Ayşe & Zhao, Kai, 2018. "Intergenerational transfers and China’s social security reform," The Journal of the Economics of Ageing, Elsevier, vol. 11(C), pages 62-70.

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