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- Title
Why are saving rates in East Asia so high? Reviving the life cycle hypothesis.
- Authors
Adams, F. Gerard; Prazmowski, Peter A.
- Abstract
Why are saving rates in the East Asian countries so high? This paper represents an attempt to provide an explanation in terms of rapid income growth rates linked to the life cycle hypothesis under the modification that consumption standards rise as income does, and that they continue to rise well beyond the consumer's retirement age. Empirical tests support the relationship between saving rates and growth implied by the theory. This approach goes a long way toward explaining high saving rates in East Asia.
- Subjects
EAST Asia; INCOME; SAVINGS; GROWTH rate; CONSUMERS; RETIREMENT age
- Publication
Empirical Economics, 2003, Vol 28, Issue 2, p275
- ISSN
0377-7332
- Publication type
Article
- DOI
10.1007/s001810200130