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China and Global Development Seminar Series

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Hong Kong Institute of Economics and Business Strategy

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presents

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Why Are Saving Rates so High in China?

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by Professor Dennis Yang

Chinese University of Hong Kong

 

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March 9, 2011 (Wednesday)

11:30 a.m. to 1:00 p.m.

 

Room 910, KKL Building

The University of Hong Kong

Pokfulam Road, Hong Kong

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Remarks:  Non-HKU staff/students who are interested in attending this seminar, please register with Ms. Angelina Hung by sending your full name, affiliation and contact details to info@hiebs.hku.hk.  For enquiries, please call 2547 8472. 

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Abstract

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Considerable attention has been directed toward the high and rising saving rates in China. The phenomenon known as ¡§The Chinese Saving Puzzle¡¨ features persistently high national saving rates at 34¡V53 percent of the GDP in the past three decades, as well as a surge in saving rates by 11 percentage points from 2000¡V2008. Using both aggregate and household survey data, we will analyze the sources and causes of China¡¦s high saving rates in the government, corporate, and household sectors. The interactions of household behavior with dramatic changes in lifecycle earnings and pension reforms will be emphasized as a partial resolution to the saving puzzle. Although the causes of high saving are complex, the presentation will explore how evolving economic, demographic, and policy trends in the internal and external environments of the Chinese economy will affect its national saving in the near future.

 

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About the Speaker  

Dennis Tao Yang is Professor of Economics and Co-Director of the Economic Research Center of the Hong Kong Institute of Asian-Pacific Studies at The Chinese University of Hong Kong (CUHK). He is also a Senior Fellow of research centers at Peking University, Tsinghua University, and the Institute for the Study of Labor (IZA) in Germany. Yang¡¦s main research interests are economic development and growth, and labor economics, especially in the context of China and economic transition. He has studied household behavior, education, structural transformation and long-term growth, famines in centrally planned economies, China¡¦s population policies, wage growth, and income distribution. He has published widely in leading economics journals and co-edited two books on economic reforms in China. Yang obtained his undergraduate degree from UCLA and his Ph.D. from the University of Chicago. Prior to joining CUHK in 2007, he taught at Duke University and Virginia Polytechnic Institute and State University.

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