“” , “” “ ”, “” ; “ ”, “” : 2000, , , 1996—200630: The paper examines the micro-mechanism for the high savings rate in China from public finance view. We find that the self-interest of government...“” , “” “ ”, “” ; “ ”, “” : 2000, , , 1996—200630: The paper examines the micro-mechanism for the high savings rate in China from public finance view. We find that the self-interest of government has played an important role in the rising national savings rate since 2000. The improved SOE profitability has enhanced the government incentive to save for the investment. This has crowded out public expenditures on technology, education, medicare and social safety net. As a result, the private sector has to increase precautionary savings. The empirical study based on panel data of 30 provinces from 1996 to 2006 demonstrates that the savings rate of the public sector is positively related to SOE profitability, and the private sector savings rate is negatively related to the ratio of public expenditures to the disposable income of the public sector.View full textDownload full text展开更多
文摘“” , “” “ ”, “” ; “ ”, “” : 2000, , , 1996—200630: The paper examines the micro-mechanism for the high savings rate in China from public finance view. We find that the self-interest of government has played an important role in the rising national savings rate since 2000. The improved SOE profitability has enhanced the government incentive to save for the investment. This has crowded out public expenditures on technology, education, medicare and social safety net. As a result, the private sector has to increase precautionary savings. The empirical study based on panel data of 30 provinces from 1996 to 2006 demonstrates that the savings rate of the public sector is positively related to SOE profitability, and the private sector savings rate is negatively related to the ratio of public expenditures to the disposable income of the public sector.View full textDownload full text
