Pattern of Household Savings during a Hyperinflation: The Case of Urban China in the the Late 1980s

Zhu, Yu and Aaberge, Rolf (2001) Pattern of Household Savings during a Hyperinflation: The Case of Urban China in the the Late 1980s. Review of Income and Wealth, 47 (2). pp. 181-202. (The full text of this publication is not available from this repository)

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Official URL
http://dx.doi.org/10.1111/1475-4991.00011

Abstract

This paper presents evidence on household savings in urban regions of the Chinese provinces Sichuan and Liaoning, based on data from the State Statistical Bureau's Urban Household Survey for the late 1980s. In this period the Chinese economy was subject to extensive reforms that resulted in rapid economic growth followed by extremely high inflation. The high inflation rates gave the households strong motives to switch from financial savings to purchase of consumer durables, which also appear to be consistent with the structure of the observed data. By providing empirical evidence on the relative importance of savings by lower, middle and upper income groups for single-child families and for all households, this study also discusses whether savings decisions depend on the level of household income. Single-child families are focused, not only because of their growing dominance in the current Chinese society, but also to control for the effect of demographic disparities.

Item Type: Article
Subjects: H Social Sciences
Divisions: Faculties > Social Sciences > School of Economics
Depositing User: C. Hudson
Date Deposited: 19 Dec 2007 18:20
Last Modified: 08 Apr 2014 08:10
Resource URI: http://kar.kent.ac.uk/id/eprint/560 (The current URI for this page, for reference purposes)
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