Effects of Age on Saving Motives of Chinese Urban Consumers
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Prior research on the saving behavior of Chinese consumers gave indirect evidence of various saving motives. In contrast, this study examined saving motives directly reported by consumers in a national survey in China. Findings indicated that the three most commonly reported motives were saving for emergency, children’s education, and retirement. Mediation analysis results suggested that saving motives reported by Chinese survey participants had clear life cycle patterns.
KeywordsChina Mediation analysis Saving motive Saving rate
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