1.Department of Economics and Management, Shandong University of Technology, Zibo 255012, China; 2.School of Economics, Shandong University of Technology, Zibo 255012, China; 3.School of Economics, Nankai University, Tianjin 300071, China
Abstract：
Based on the panel data of 87 countries across the world in 1995-2014, this paper examines the impact of government intervention on savings rates. The empirical results show that government intervention significantly enhances a country’s savings rate, and there is a positive correlation between the two. When taken into account the interaction of government intervention on economic and financial development, the conclusion remains strong. Quantile regression results show that when the savings rate quantile increases, the impact of government intervention on it presents a “U” shape development that falls before it rises. Dynamic panel regression further reflects that there is still a significant positive correlation between government intervention and the savings rate in countries of different income levels, and the intensity of the impact of government intervention on the savings rate increases firstly and then decreases, showing an inverted U-shape feature.
2018 
