银行自由化的储蓄效应分析——基于中国经验的实证研究

Effectiveness of Rate on Private Savings from Liberation of Finance——Evidance from China

动员储蓄是金融系统的基本功能,"二战"后发展中国家普遍实施的金融抑制政策削弱了金融系统的基本功能。这种政策在长期内降低了私人储蓄率,不利于经济发展。金融自由化能通过利率、收入、资产选择效应等多种机制提高私人储蓄率。中国自20世纪90年代逐渐推行金融自由化运动。选取1992-2006年为样本区间,通过对中国银行自由化的储蓄效应进行实证分析,认为中国的银行自由化对提高私人储蓄率作用是显著的,且具有统计上的规律性。

Mobilization saving is a fundamental function of the finance system. After the ＂World War II＂, many developing countries devised the political system of Financial Depression, which have undermined the function of the financial system and decreased the rate of private savings, abated the increase of economy in a long term. The financial liberalization can promote the private savings from the effectiveness of rates, income and assets selection. The financial liberalization started from the beginning of 1990. We did a positive research on the effectiveness of savings by using the data from 1992 to 2006. We found that the liberalization had promoted the private savings robustly and significantly.