中国居民储蓄变动的实证分析

AN EMPIRICAL STUDY ON THE RESIDENTS' SAVINGS CHANGE IN CHINA

居民储蓄持续增长已成为我国重要的经济现象之一。理论上 ,影响我国居民储蓄的主要因素是居民可支配收入和价格水平。协整理论和误差修正模型进一步表明 ,在居民储蓄、居民可支配收入和价格水平之间存在协整关系 ,居民储蓄无论在短期还是长期均快于居民可支配收入的增长。

It is one of important economic phenomena in China that the residents' savings steadily increases. The residents' disposable income and price are primary factors affecting the residents' savings on the theoretical plane. The cointegration theory and error correction model gives further conclusion that there is a cointegration relationship between the residents' savings and determinants such as the residents' disposable income and price. It also shows that the residents' savings fast increases than the residents' disposable income does either in a short term or in a long term.