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E-book
Author Guo, Kai, author

Title Determinants of China's private consumption : an international perspective / prepared by Kai Guo and Papa N'Diaye
Published [Washington, D.C.] : International Monetary Fund, [2010]
©2010
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Description 1 online resource (16 pages) : illustrations
Series IMF working paper ; WP/10/93
IMF working paper ; WP/10/93
Contents Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Empirical Framework; III. The Role of The Household Share of Income; IV. The Role of The Savings Rate; V. Conclusion; References; Footnotes
Summary This paper gauges the key determinants of China's private consumption in relation to GDP using data on the Chinese economy and evidence from other countries' experiences. The results suggest there is nothing "special" about consumption in China. Rather, the challenge is to explain why the conditioning variables-notably a low level of service sector employment, the level of financial sector development, and low real interest rates-are so different in China relative to other countries' historical experience. The results suggest, in particular, that efforts to further raise household income and the share of employment in the services sector, as well as to develop capital markets, including liberalizing interest rates and creating alternative savings instruments are likely to have the biggest impact on consumption. Other mechanisms to raise household income and mitigate household-specific risk (such as by improving the healthcare and pension systems) also have a role to play
Bibliography Includes bibliographical references (pages 15-16)
Notes Print version record
Subject Consumption (Economics) -- China.
China -- Economic conditions -- 2000-
Form Electronic book
Author N'Diaye, Papa M'B. P. (Papa M'Bagnick Paté), author
International Monetary Fund. Asia and Pacific Department, issuing body
ISBN 1282845845
1451982798 (E-Book)
1452722803
9781282845848
9781451982794
9781452722801