Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/92648
Authors: 
Horioka, Charles Yuji
Terada-Hagiwara, Akiko
Year of Publication: 
2011
Series/Report no.: 
ISER Discussion Paper, Institute of Social and Economic Research, Osaka University 821
Abstract: 
In this paper, we present data on trends over time in domestic saving rates in twelve economies in developing Asia during the 1966-2007 period and analyze the determinants of these trends. We find that domestic saving rates in developing Asia have, in general, been high and rising but that there have been substantial differences from economy to economy and that the main determinants of these trends appear to have been the age structure of the population (especially the aged dependency ratio), income levels, and the level of financial sector development. We then project future trends in domestic saving rates in developing Asia for the 2011-2030 period based on our estimation results and find that the domestic saving rate in developing Asia as a whole will remain roughly constant during the next two decades despite rapid population aging in some economies in developing Asia because population aging will occur much later in other economies and because the negative impact of population aging on the domestic saving rate will be largely offset by the positive impact of higher income levels.
Subjects: 
domestic saving rates
saving rates
life cycle model
life cycle hypothesis
age structure of the population
demographics
aging
population aging
financial sector development
developing Asia
emerging Asia
China
JEL: 
D91
E21
G10
J11
O53
Document Type: 
Working Paper

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