Is the age structure of the population one of the determinants of the household saving rate in China? : a spatial panel analysis of provincial data
Jingwen Yin, Charles Yuji Horioka
In this paper, we use provincial panel data on China for the 2002-19 period to conduct a spatial autocorrelation analysis of household saving rates as well as a dynamic panel analysis of the determinants of household saving rates using a spatial Durbin model. To summarize our main findings, we find that, in China, the household saving rate shows significant positive spatial autocorrelation with an overall "high-high" and "low-low" clustering pattern, that, as predicted by the life-cycle hypothesis, the youth dependency ratio and the old-age dependency ratio have a negative and significant impact on the household saving rate, and that the logarithm of per capita household disposable income, the regional economic growth rate, the share of the urban population, the industrialization rate, and the income disparity between urban and rural areas also have a significant impact on the household saving rate.
Year of publication: |
March 2022
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Authors: | Yin, Jingwen ; Horioka, Charles |
Publisher: |
Osaka, Japan : The Institute of Social and Economic Research, Osaka University |
Subject: | age structure of the population | China | dependency ratio | household savingrate | life-cycle hypothesis or model | old-age dependency ratio | spatial autocorrelation | spatial Durbin model | youth dependency ratio | Bevölkerungsstruktur | Demographic structure | Altersstruktur | Age structure | Sparen | Savings | Räumliche Verteilung | Spatial distribution | Alternde Bevölkerung | Aging population | Privater Haushalt | Household |
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