Saving Puzzle——Culture or Economy?

被引：0

作者：

Lu J.-Y. ^{[1
]}

Chong Z. ^{[2
]}

机构：

[1] Shantou University Business School, Shantou

[2] School of Finance, Shanghai University of Finance and Economics, Shanghai

来源：

Applied and Environmental Microbiology | 2019年 / 1卷 / 03期

关键词：

Culture; general equilibrium analysis; HT estimator; religion; savings rate;

D O I：

10.22606/aem.2019.13001

中图分类号：

学科分类号：

摘要：

Under the framework of general equilibrium, using an OLG model, this paper analyzed theoretical mechanism about the impact of culture on savings rate. At the same time, using 45 countries' panel data from 1980 to 2013, this paper analysis the theoretical conclusions by empirical analysis. Theoretical and empirical analysis shows that: Firstly, Culture can influence people's savings rate by affecting one's subjective discount rate and the spirit of capitalism; Secondly, time-invariant individual factors' explanatory power is large than traditional factors such as income, population structure, and culture is an important part of individual factors; Thirdly, the influence of cultural factors on the national savings rate is heterogeneous, it can explain the savings rate differences between east and west and "the puzzle of high savings rate in east Asia", but it has a lower explanatory power in western countries. © 2019. Isaac Scientific Publishing. All Rights Reserved.

引用

页码：35 / 48

页数：13