Study On The Relationship Between Real Interest Rate And Household Savings In China

In the current global financial market development,the interest rate mechanism is always an effective means of national economic operation.Such as Japan,Sweden central bank save domestic investment to stimulate the country's weak GDP growth in 2015 and 2016 February January interest rate will be reduced to negative interest rates.Although China did not implement negative interest rate policy,but the people the bank is on the China continuous benchmark interest rate down again,especially in August 26,2015,the central bank announced the benchmark deposit rate with the same period a year rose CPI,our bank deposit rates have actually become negative real interest rate of residents.For savers,the real interest rate is the determinants of bank deposits of financial option theory,the real interest rate of China's current low of resident savers undoubtedly weakens the deposit financial motivation.Then the actual situation how? At present in our country and its related literatures the most studies are general research and analysis of influencing factors of China's savings rate or the nominal interest rate on savings to study,but relatively little research on the real interest rate and savings but did not reach a unified consensus.So the study on the relationship between China's real interest rates and savings.It's especially necessary.This paper focuses on the relationship between China's real interest rates and savings in the research through seven chapters of the main body of this paper will be connected.The first chapter is an introduction,including background and significance are elaborated the paper research.literature review,the research methods and technology roadmap and this paper has four innovations and deficiencies;second chapter mainly defines the relevant professional terms appear in the papers were divided into the definition and selection of indicators in real interest rates,savings and the concept of residents savings rate is defined,the calculation caliber induction and conduction mechanism in real interest rates on savings Several aspects;the third chapter focuses on the real interest rate in China since 1990 for the special situation of negative interest rates,key statistics,comparison table to show my country since 90 s,the actual situation of negative interest rates,external factors affecting the negative real interest rate in China,analysis of the impact of internal factors and the actual negative interest rates will bring to the economy relatively generally positive effects and negative effects on China's economy and related subjects,mainly divided into the impact on China's commercial banks,government authorities,the impact of China's enterprises and the impact on China's personal aspects;the fourth section Of China's comparative analysis of relationship between China's real interest rates and savings from 1978-2015 years,mainly divided into 1978-2007 and-2015 in 2008 in the two stages mainly describes two aspects including China since 1990 negative real interest rates and the actual situation analysis of negative interest rates;the fifth chapter is Eviews the empirical research on the relationship between software saving status of Chinese residents and the actual interest rate based on the divided into index system and research methods,model,empirical research,conclusions and research results of the model test analysis of five aspects through four,The five chapter of the research results of our current status of low real interest rates and high household savings coexist,China's real interest rates have a significant impact and the correlation between them is not large enough for the savings.Conclusion the reasons exist at the same time on the current low real interest rates and high savings rate to sixth residents and chapters on China the economy which produced negative effects were analyzed;finally the seventh chapter is the analysis of the previous chapters of China should put forward measures to deal with the relevant suggestions and countermeasures,mainly divided into monetary authorities should implement appropriate monetary policy from the improvement of the system and the implementation of a stable currency interest rate market Policy and other aspects,the government should formulate the matching policy such as establishing and perfecting the social security system to improve the redistribution policy,narrowing the gap between urban and rural gap,increase the overall level of income of urban and rural residents and residents to change the traditional consumption savings habits,advocate moderate and rational consumption should establish a diversified investment strategy can choose diversification the ways of investment and strengthen the cultivation of learning and literacy,financial investment,commercial banks play the main role of financial intermediaries to strengthen risk monitoring,maintaining the stability of the banking system and to guide the financial innovation to promote financial market development and prosperity.