An Analysis Of The Difference And Causes Of Chinese Rural Residents Saving Rate

Relevant statistical data shows that,in recent years,China’s economic downward pressure has been increasing.Investment and export,which have been supporting China’s sustained and rapid economic growth,become weak,while consumption’scontribution to economic growth is increasing.it is possible that consumption become a new impetus to promote economic growth.And the relationship between consumption and savings is convertible.As one falls,another rises.It is generally accepted that the higher savings of Chinese nationals is an important obstacle to playing the role of consumption on the economic growth.But the higher savings rate is only on the whole,in fact,there are regional and individual differences.According to the relevant data,the resident savings Gini coefficient shows that the household savings rate is either high or low,the difference is bigger.In addition,the factors that affect the level of savings and the role of various factors are not the same.These differences make the marginal effects of the policy different.Therefore,the problem of saving residents should not be generalized.Finding and analyzing the differences of high and low savings in the specific reasons are important.Because they are beneficial to developa targeted policies to improve the savings situation,reduce the overall savings rate and increase the consumption of residents.At present,the study has been related to the problem of household savings differences,but the study on the difference in savings rate of rural residents is relatively rare.Based on the above background and the literature of income,social network,population factor,wealth level and social security related to savings,this paper chooses relevant indicator variables and combines the relevant savings theory,using the quantile regression,interquantile regression and CFPS data to investigate the differences on China’s rural resident savings rate.Finally,according to the relevant conclusions of empirical analysis,selecting the factors that can influence the policy to provide some suggestions.The empirical results show that there are many reasons caused the differences of rural household savings rate.The empirical results shows that family income,land area,cash and deposits as well as the number of minor children have a significant negative influence on household savings rate,narrowing the difference of family savings rate to some degree.Both family medical spending and household gift expenditure have positive impact on the difference of rural household savings rate,which increase household savings rate difference;Rural social security system that composed of new rural pension program and new type of rural cooperative medical care system has no significant impact on the difference of residents savings rate.