| ID | 175196 |
| Title Proper | Do Natural Disasters Influence Long-Term Savings? |
| Other Title Information | Assessing the Impact of the 2008 Sichuan Earthquake on Household Saving Rates Using Synthetic Control |
| Language | ENG |
| Author | Kevin Luo, Tomoko Kinugasa ; Luo, Kevin ; Kinugasa, Tomoko |
| Summary / Abstract (Note) | By employing the synthetic control method, the authors examine the short- and long-term effects of the 2008 Sichuan earthquake on saving behaviour. The results indicate that, in the short run, the earthquake caused drastic declines in household saving rates—from 24 per cent to seven per cent and from 23 per cent to 21 per cent for rural and urban populations, respectively. However, household saving rates recovered to the baseline shortly after the shock, and the outcome exactly matches the counterfactual counterparts in the following period. The estimates imply that, at the aggregate level, the earthquake has had no discernible long-run impact on the saving propensity of the affected population. |
| `In' analytical Note | China: An International Journal Vol. 18, No.3; Aug 2020: p.59-81 |
| Journal Source | China: An International Journal 2020-08 18, 3 |
| Key Words | 2008 Sichuan Earthquake ; Natural Disasters Influence ; Long-Term Savings ; Household Saving Rates |