How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data
The impact of the ageing population on China’s economy and society is multifaceted, with the impact on household savings rates being particularly important. This study investigates the influence of population ageing on household savings rates, utilizing data obtained from the China Household Finance...
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2023
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Online Access: | http://ir.unimas.my/id/eprint/45232/1/How%20Doe.pdf http://ir.unimas.my/id/eprint/45232/ https://www.macrothink.org/journal/index.php/ber/article/view/21442 https://doi.org/10.5296/ber.v13i4.21442 |
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my.unimas.ir.452322024-07-12T01:41:03Z http://ir.unimas.my/id/eprint/45232/ How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data Haidong, Yuan Puah, Chin Hong Josephine Yau, Tan Hwang HG Finance The impact of the ageing population on China’s economy and society is multifaceted, with the impact on household savings rates being particularly important. This study investigates the influence of population ageing on household savings rates, utilizing data obtained from the China Household Finance Survey (CHFS) spanning the period from 2015 to 2019. The study found that ageing has a significant negative effect on household savings rates. This finding suggests that there is a significant life-cycle effect on changes in household savings rates in China, which is not conducive to the formation of a second demographic dividend. From the perspective of mediating variables, population ageing growth reduces household income, thereby further decreasing the household savings rate, with income reduction being the main factor causing the decline in the household savings rate. Additionally, it has been found that the impact of population ageing on the household savings rate exhibits significant heterogeneity between urban and rural areas. The increasing proportion of the elderly population in rural areas has a stronger negative effect on the household savings rate. Macrothink Institute 2023 Article PeerReviewed text en http://ir.unimas.my/id/eprint/45232/1/How%20Doe.pdf Haidong, Yuan and Puah, Chin Hong and Josephine Yau, Tan Hwang (2023) How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data. Business and Economic Research, 13 (4). pp. 227-240. ISSN 2162-4860 https://www.macrothink.org/journal/index.php/ber/article/view/21442 https://doi.org/10.5296/ber.v13i4.21442 |
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HG Finance Haidong, Yuan Puah, Chin Hong Josephine Yau, Tan Hwang How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
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The impact of the ageing population on China’s economy and society is multifaceted, with the impact on household savings rates being particularly important. This study investigates the influence of population ageing on household savings rates, utilizing data obtained from the China Household Finance Survey (CHFS) spanning the period from 2015 to 2019. The study found that ageing has a significant negative effect on household savings rates. This
finding suggests that there is a significant life-cycle effect on changes in household savings rates in China, which is not conducive to the formation of a second demographic dividend. From the perspective of mediating variables, population ageing growth reduces household income, thereby further decreasing the household savings rate, with income reduction being the main factor causing the decline in the household savings rate. Additionally, it has been found that the impact of population ageing on the household savings rate exhibits significant heterogeneity between urban and rural areas. The increasing proportion of the elderly
population in rural areas has a stronger negative effect on the household savings rate. |
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Article |
author |
Haidong, Yuan Puah, Chin Hong Josephine Yau, Tan Hwang |
author_facet |
Haidong, Yuan Puah, Chin Hong Josephine Yau, Tan Hwang |
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Haidong, Yuan |
title |
How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
title_short |
How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
title_full |
How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
title_fullStr |
How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
title_full_unstemmed |
How Does the Ageing Population Affect China’s Household Savings Rate? Empirical Study Based on China’s Micro Household Data |
title_sort |
how does the ageing population affect china’s household savings rate? empirical study based on china’s micro household data |
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Macrothink Institute |
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2023 |
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http://ir.unimas.my/id/eprint/45232/1/How%20Doe.pdf http://ir.unimas.my/id/eprint/45232/ https://www.macrothink.org/journal/index.php/ber/article/view/21442 https://doi.org/10.5296/ber.v13i4.21442 |
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