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The competitive saving motive : evidence from rising sex ratios and savings rates in China

Author: Shang-Jin Wei; Xiaobo Zhang; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2009.
Series: Working paper series (National Bureau of Economic Research), no. 15093.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
While the high savings rate in China has global impact, existing explanations are incomplete. This paper proposes a competitive saving motive as a new explanation: as the country experiences a rising sex ratio imbalance, the increased competition in the marriage market has induced the Chinese, especially parents with a son, to postpone consumption in favor of wealth accumulation. The pressure on savings spills over  Read more...
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Shang-Jin Wei; Xiaobo Zhang; National Bureau of Economic Research.
OCLC Number: 405643992
Notes: "June 2009."
Description: 1 online resource (49 p.) : ill., digital.
Series Title: Working paper series (National Bureau of Economic Research), no. 15093.
Responsibility: Shang-Jin Wei, Xiaobo Zhang.

Abstract:

While the high savings rate in China has global impact, existing explanations are incomplete. This paper proposes a competitive saving motive as a new explanation: as the country experiences a rising sex ratio imbalance, the increased competition in the marriage market has induced the Chinese, especially parents with a son, to postpone consumption in favor of wealth accumulation. The pressure on savings spills over to other households through higher costs of house purchases. Both cross-regional and household-level evidence supports this hypothesis. This factor can potentially account for about half of the actual increase in the household savings rate during 1990-2007.

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