The Institutional Obstacles to Eliminate China’s high Saving Rate：Theoretical Reflections and Policy Implications

摘要：

An efficient model is given ln this essay to show that no dividends payrment of state-owned enterprises and the liquidity constraint of households are the two institutional obstacles of the substitution responsible for China’s high saving rate.Because of the two obstacles.household savings can not sufficiently react to enterprise savings or counteract the infiuence of enterprise savings to aggregate savings which directly causes “enterprise veilinvalid and bring about high corporate saving rate. Accordingly，they stimulate china’s saving rate higher furthermore.Meanwhile.the sustainable double surplus and financing difficulties of sinail and medium-sized enterprises will be foIlowed.Based on this logic analysis and modelling，some suggestions are given in the end.

关键词： Saving rate Enterprise savings Enterprise veil liquidity constraint of households

作者: Xian-biao MA Yan LI Yuan ZHANG

作者单位: Economics and management Department of YunNan Normal University,kuming,P.R.C. 650222 Economics Depar Economics and management Department of YunNan Normal University,kuming,P.R.C. 650222 Economics Department of Zhejiang University City College

会议类型: 国际会议

会议名称: The Second China Private Economy Innovation International Forum(第二届中国民营经济创新国际论坛)

会议地点: 浙江台州

会议语种:英文

页码: 696-699

在线出版日期: 2009-08-21（万方平台首次上网日期，不代表论文的发表时间）