The Empirical Study on the Relationship between Chinese Residents’ saving rate and Economic Growth
Download as PDF
Zhaoyi Xu, Delong Ma
Chinese economy has grown rapidly with the advancement and implementation of Reform and Opening-up policy. However, compared with the developed countries, The GDP per capita of China is still staying at a poor level. Besides, under the globalized economic development trend, it is inadvisable to maintain the previous extensive development mode and we should pace up in upgrading. After a comprehensive analysis of the economic growth, the resident saving rate, among all factors, shows a significant influence on the economic development, which has been verified by researchers in many empirical studies. The paper collected the statistical data of China from 1998 to 2015 and constructed the regression analysis model based on the neoclassical growth theory and Solow model to analyze the relationship between the Chinese residents’ saving rate and economic growth rate. The Granger causality between the two was also studied and analyzed through Granger causality verification.
Chinese Residents’ saving rate, Economic Growth, Economic Growth.