Why Are Saving Rates in East Asia So High? Reviving the Life Cycle Hypothesis

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.  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.

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Paper Number
97-010
Year
1997