Explaining China's low consumption : the neglected role of household income /

The Chinese government has recently focused on the need to increase consumption to rebalance the economy. A widely held view is that despite China's remarkably high growth, the share of consumption in total expenditure has been low and declining due to high and rising saving rate of Chinese hou...

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Bibliographic Details
Author / Creator:Aziz, Jahangir, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2007.
Description:1 online resource (36 pages) : illustrations.
Language:English
Series:IMF working paper ; WP/07/181
IMF working paper ; WP/07/181.
Subject:Consumption (Economics) -- China -- Econometric models.
Economic development -- China -- Econometric models.
Income -- China -- Econometric models.
Wealth -- China -- Econometric models.
Consumption (Economics) -- Econometric models.
Economic development -- Econometric models.
Income -- Econometric models.
Wealth -- Econometric models.
China.
Electronic books.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496053
Hidden Bibliographic Details
Other authors / contributors:Cui, Li, author.
ISBN:1283515075
9781283515078
145191198X
9781451911985
ISSN:2227-8885
Notes:Includes bibliographical references (pages 31-32).
Restrictions unspecified
Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
Summary:The Chinese government has recently focused on the need to increase consumption to rebalance the economy. A widely held view is that despite China's remarkably high growth, the share of consumption in total expenditure has been low and declining due to high and rising saving rate of Chinese households as uncertainty over provision of pensions, and health care and education costs have increased since the mid-1990s. This paper finds that the rise in saving rate has been a minor factor. Much larger has been the role of the declining share of household income in national income, which has occurred across-the-board in wages, investment income, and government transfers. The paper finds that financial sector weaknesses, by restricting firms' access to bank financing for working capital, have played quantitatively a major role in keeping wage and investment income shares low and on a declining trend. 5.
Other form:Print version: Aziz, Jahangir. Explaining China's low consumption. [Washington, D.C.] : International Monetary Fund, Asia and Pacific Dept., ©2007
Standard no.:10.5089/9781451911985.001