Empirical Research On The Relationship Between High Savings And Economic Growth In China

The economic reformation and openness in the China have achieved a great success that the speedy growth lasts for more than 20 years so that the aggregate national power has being strengthened and the people's living standard has being gone up steadily.Now, the growth of China has entered into a key period, and its reformation and openness have advanced to a vital stage. So, one of the most important questions in China is how to accelerate the economic growth and deepen the reformation and openness.The fixed investment plays an important role in speeding the economic growth, and economic growth leads to the saving growth or inflow of the external saving to provide adequate capital support for the increase of investment.Therefore, the economic growth still needs not only to sustain the proper increase of the investment scale but also to make the investment more efficient to raise the quality of investment.Meanwhile, the financial reformation should be continued to ensure that saving could transform investment timely and effectively.In addition, the strategy of the West Development should be entirely implemented by giving the capital and policy supports for the central and western growth and stimulating their superiorities to narrow the regional gaps and realize the regional coordinated growth.Since the reformation of economy in China, household savings have been increasing greatly and continually.The rapid growth of household savings have supported the source of main capital to our economic development, however, over-high savings must come together with many negative impacts.On such situation, this paper studied the problem of over-high savings in China at the basis of domestic and foreign saving theories and the system changes.The main contents as follows:studied the basic condition of household saving growth since the reformation of China, analyzed the causes of the fast growth of household savings in China, got the conclusion that the precautionary saving motivation is the main reason for China's the problem of current high savings by the regression analysis between household saving deposits and the medical, educational and living expenses.Secondly, the theoretical models, which could comprehensively reflect the relationships of the fixed investment and househole saving have been built in the basis of the existing theoretical research.Thirdly, the empirical studies about their relationships in the whole country's system have been carried out by using the recent quantitative economics' methods as the samples.Finall, the similarities and differences between the empirical and theoretical results have been analyzed, and the relevant policies have been raised.