TFP Growth Rate and China's High Saving Rate
用标准新古典增长模型模拟中国1992-2007年的储蓄率，发现全要素生产率增长率是解释中国高储蓄率的最关键因素。
The paper shows that the standard neoclassical growth model is able to generate saving rates that are remarkably similar to the Chinese data during 1992～2007,once the actual time path of the Chinese population growth rate,aggregate hours,tax rate on capital income,the depreciation rate and the time path of the total factor productivity(TFP)growth rate for that time period are taken into account.Among these,TFP growth rates seem to matter the most especially for the Chinese high savings rate of this period.It is found that if China had faced the U.S.TFP and initial conditions,the savings rate of China would have looked very similar to that of the U.S.