中国高储蓄率的重新诠释及变化趋势

吴建军

PDF
Cite
Share

facebook

twitter

google

linkedin

December 2023

Article Contents

Citation: WU Jianjun. The Reinterpretation of China’s High Savings Rate and Its Changing Trend[J]. Academic Monthly, 2023, 55(12): 41-51. shu

The Reinterpretation of China’s High Savings Rate and Its Changing Trend

WU Jianjun

Abstract

This paper evaluates the misinterpretation of savings rate by micro thinking from the perspective of the connotation of savings.It points out that there is no causal relation between savings rate and consumption rate of an economy,and both of them are determined by production structure.Different from the view of mainstream economics that saving determines investment,this paper demonstrates the logic that investment determines saving from the perspective of financing based on the production process,and shows that saving is the consequence of investment rather than the cause.Combined with the practice of China’s economy development,this paper further indicates that China’s high savings rate is the result of excessive investment scale and high proportion of capital goods output in GDP under the extensive economic growth mode.Under the guidance of high-quality development,China’s economic growth will transform from investment driven to technology innovation-driven,and the investment rate as well as the savings rate will tend to decline.However,the production structure will be further optimized,thus promoting the improvement of consumption level and quality.
- high savings rate,production structure,growth mode
References
Access
1. [1]
  Wei WANG , Yufei LIU , Yan XU . Working-age Population Structure and Dynamic Evolution of China’s Labor Productivity. Academic Monthly, 2019, 51(8): 48-64.
2. [2]
  Wenfang YAO . The Poetic Model/Hermeneutic Model: The Interpretation Approach to Productive Literary Criticism. Academic Monthly, 2022, 54(9): 159-170.
3. [3]
  Miaojie YU , Xiaotong WANG . China-ASEAN Free Trade Agreement and Chinese Enterprise Productivity. Academic Monthly, 2021, 53(3): 50-62.
4. [4]
  Jiechang XIA , Yu XIAO , Shilin LI . Re-measurement and Influence Factors of Total Factor Productivity in China’s Service Industry. Academic Monthly, 2019, 51(2): 34-43.
5. [5]
  . . Academic Monthly, 2022, 54(6): 24-29.
6. [6]
  CHEN Kunting . What is the Impact of Capital Structure on Long-term Economic Growth——基于中国省际面板数据的门槛回归分析. Academic Monthly, 2023, 55(11): 52-62.
7. [7]
  . . Academic Monthly, 2016, 48(04): 54-62.
8. [8]
  ZHONG Ninghua . . Academic Monthly, 2018, 50(6): 43-56.
9. [9]
  Jie ZHANG . How Does Bank Competition Affect Firm Debt Ratio. Academic Monthly, 2019, 51(1): 34-49.
10. [10]
  Yanjing ZHAO , Tao SONG . The Optimal Discount Rate of the Capital on the Perspective of Capital Competition. Academic Monthly, 2022, 54(5): 60-70.
11. [11]
  , . . Academic Monthly, 2017, 49(11): 49-73.
12. [12]
  Yanjing ZHAO . Modern Growth and Credit Money. Academic Monthly, 2020, 52(8): 83-98.
13. [13]
  Biliang LUO . Growth, Transformation and Ecological Development. Academic Monthly, 2021, 53(5): 54-64.
14. [14]
  Baifeng CHEN . The Choice of Mode of Rural Land System in Concerning with Water Supply. Academic Monthly, 2020, 52(5): 113-125.
15. [15]
  Chenjun YOU . The Powers and Compound Functions of the Discourse Mode about Pettifoggers’ Retribution for Evildoing. Academic Monthly, 2019, 51(3): 95-108.
16. [16]
  Weiguo ZHANG , Shuang WANG . The Rise of the Great Powers: Eastern Asian Model andChinese Road. Academic Monthly, 2019, 51(10): 67-81.
17. [17]
  He Da’an , Yang Yijun . . Academic Monthly, 2018, 50(5): 68-77.
18. [18]
  . . Academic Monthly, 2017, 49(01): 104-116.
19. [19]
  . . Academic Monthly, 2022, 54(6): 18-23.
20. [20]
  Jing GE , Ruiming LIU . China’s Economic Growth, Fluctuation and Regional Disparities. Academic Monthly, 2022, 54(2): 63-78.

Get Citation

PDF

XML

Entire Issue PDF

Article Metrics

Article views: 88 Times PDF downloads: 0 Times Cited by: 0 Times

Metrics

PDF Downloads(0)
Abstract views(88)
HTML views(36)

Latest
Most Read
Most Cited

通讯作者: 陈斌, bchen63@163.com

1.
沈阳化工大学材料科学与工程学院沈阳 110142

The Reinterpretation of China’s High Savings Rate and Its Changing Trend

WU Jianjun

Abstract: This paper evaluates the misinterpretation of savings rate by micro thinking from the perspective of the connotation of savings.It points out that there is no causal relation between savings rate and consumption rate of an economy,and both of them are determined by production structure.Different from the view of mainstream economics that saving determines investment,this paper demonstrates the logic that investment determines saving from the perspective of financing based on the production process,and shows that saving is the consequence of investment rather than the cause.Combined with the practice of China’s economy development,this paper further indicates that China’s high savings rate is the result of excessive investment scale and high proportion of capital goods output in GDP under the extensive economic growth mode.Under the guidance of high-quality development,China’s economic growth will transform from investment driven to technology innovation-driven,and the investment rate as well as the savings rate will tend to decline.However,the production structure will be further optimized,thus promoting the improvement of consumption level and quality.

HTML

Relative (20)

DownLoad: Full-Size Img PowerPoint

Return

The Reinterpretation of China’s High Savings Rate and Its Changing Trend

Abstract

References

Access

Article Metrics

Metrics

通讯作者: 陈斌, bchen63@163.com

The Reinterpretation of China’s High Savings Rate and Its Changing Trend

HTML

目录