Download or read book Household Savings in Transition Economies written by and published by World Bank Publications. This book was released on with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Household Savings in Transition Economies written by Cevdet Denizer and published by . This book was released on 2000 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Bulgaria, Hungary, and Poland, the higher the relative household income is, the higher the savings rate is. But, surprisingly, savings rates appear to be unaffected by either sector of employment (public or Private) or form of employment. Savings rates are significantly higher for households that do not own their own homes or that own few of the standard consumer durables - possibly because, with no retail credit or mortgage markets, households must save to purchase houses and durables.
Download or read book Income Uncertainty and Household Savings in China written by Mr.Marcos Chamon and published by International Monetary Fund. This book was released on 2010-12-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s household saving rate has increased markedly since the mid-1990s and the age-savings profile has become U-shaped. We find that rising income uncertainty and pension reforms help explain both of these phenomena. Using a panel of Chinese households covering the period 1989-2006, we document that strong average income growth has been accompanied by a substantial increase in income uncertainty. Interestingly, the permanent variance of household income remains stable while it is the transitory variance that rises sharply. A calibration of a buffer-stock savings model indicates that rising savings rates among younger households are consistent with rising income uncertainty and higher saving rates among older households are consistent with a decline in the pension replacement ratio for those retiring after 1997. We conclude that rising income uncertainty and pension reforms can account for over half of the increase in the urban household savings rate in China since the mid-1990s as well as the U-shaped age-profile of savings.
Download or read book Corruption and Household Savings Fostering Growth in Transition Countries written by Ian Timothy Cronin and published by . This book was released on 2015 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between corruption and household savings. The study tests the hypothesis that corruption is positively correlated with household savings in transition countries (i.e. former Soviet bloc states). International economic development organizations, and governments alike, operate under the assumption that a key to bolstering economic growth, particularly in transition countries, is to mitigate institutional corruption. However, given the high positive correlation between household savings and investment and economic growth, a positive correlation between corruption and household savings could indicate that current assumptions on maximizing short-term growth in these environments need to be reconsidered. This study utilizes the European Bank for Reconstruction and Development's Life in Transition Survey II to determine the relationship between perceived levels of corruption and household savings. Using multivariable regression analysis, this assessment determines that perceived levels of corruption are negatively correlated with household savings. While this finding supports the international development communities' current strategies for encouraging economic growth, the study also finds some evidence indicating households more directly impacted by corruption may actually save more. While this latter finding should not impact global growth strategies, it may influence strategies for dealing with this niche demographic.
Download or read book China s High Savings Drivers Prospects and Policies written by Ms.Longmei Zhang and published by International Monetary Fund. This book was released on 2018-12-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s high national savings rate—one of the highest in the world—is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the household sector, resulting from demographic changes induced by the one-child policy and the transformation of the social safety net and job security that occured during the transition from planned to market economy. Housing reform and rising income inequality also contribute to higher savings. Moving forward, demographic changes will put downward pressure on savings. Policy efforts in strengthening the social safety net and reducing income inequality are also needed to reduce savings further and boost consumption.
Download or read book Household Savings in the Transition written by Cevdet Denizer and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore household savings decision in Bulgaria, Hungary, and Poland during the transition from plan to market, finding four main results. First, except for the age profile, the effects of standard determinants on savings are comparable for transition and market economies. Second, we do not find support for a precautionary savings motive. Third, the evidence on consumption smoothing is mixed. Education of the head of the household, but not employment characteristics, are linked robustly to savings. Fourth, ownership of durables is negatively correlated with savings, consistent with the presence of anticipatory savings.
Download or read book Financing Growth and Development in the Transition Economies written by UN. ECE. Economic Analysis Division and published by . This book was released on 2000 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saving for Development written by Inter-American Development Bank and published by Springer. This book was released on 2016-07-08 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why should people - and economies - save? This book on the savings problem in Latin America and the Caribbean suggests that, while saving to survive the bad times is important, saving to thrive in the good times is what really counts. People must save to invest in health and education, live productive and fulfilling lives, and make the most of their retirement years. Firms must save to grow their enterprises, employ more workers in better jobs, and produce quality goods. Governments must save to build the infrastructure required by a productive economy, provide quality services to their citizens, and assure their senior citizens a dignified, worry-free retirement. In short, countries must save not for the proverbial rainy day, but for a sunny day - a time when everyone can bask in the benefits of growth, prosperity, and well-being. This book is open access under a CC BY-NC-ND 3.0 IGO license.
Download or read book Transition Economies written by Aleksandr V. Gevorkyan and published by Routledge. This book was released on 2018-04-17 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration. Transition Economies will aid students, researchers and policy makers working on the problems of comparative economics, economic development, economic history, economic systems transition, international political economy, as well as specialists in post-Soviet and Central and Eastern European regional studies.
Download or read book China s Economy in Transition written by Mr.Anoop Singh and published by International Monetary Fund. This book was released on 2013-11-07 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: China's current account surplus has declined to around one-quarter the peak reached before the global financial crisis. While this is a major reduction in China's external imbalance, it has not been accompanied by a decisive shift toward consumption-based growth. Instead, the compression in its external surplus has been accomplished through increasing fixed investment so that it is now an even higher share of China's national economy. This increasing reliance on fixed investment as the main driver of China's growth raises questions about the durability of the compression in the external surplus and the sustainability of the current growth model that has had unprecedented success in lifting about 500 million people out of poverty over the last three decades. This volume examines various aspects of the rebalancing process underway in China, highlighting policy lessons for achieving stable, sustainable, and inclusive growth.
Download or read book Exploring the Political Economy of Diverging Private Savings Patterns in Selected Transition Economies written by Botagoz Sabirovna Kalkenova and published by . This book was released on 2011 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis has investigated the differences of private savings determinants in fifteen selected former Soviet Union countries: Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Lithuania, Latvia, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan. On the surface, savings rates in resource rich countries with autocratic political regimes tend to be higher than those in countries with more liberal, democratic political cultures. For that reason, this analysis was guided by the idea that diverging private savings rates cannot be solely explained by differing socio-economic fundamentals, but rather can be attributed to the nature of the political regimes shaping socio-economic fundamentals. In this regard a critical assumption underlying the line of argument was that different political regimes provide people with different opportunities and incentives to save. Taking this perspective, this thesis tried to extend on the existing literature on savings rates in transition economies, which has primarily viewed savings decisions as a function of socio-economic factors (e.g. GDP per capita, annual GDP growth). To analyze the empirical relationship between private savings and the quality of political institutions and regime types in the selected fifteen post-soviet countries, a two-way fixed effects panel model covering the period between 1998 and 2008 was applied. The data for this study has been obtained from different sources such as the World Bank, the International Monetary Fund, the Polity IV Project, the European Bank for Reconstruction and Development, and British Petroleum. Research findings indicate that financial and capital account liberalizations may increase domestic activity with a positive effect on overall economic income, and thus private savings, but it also can be a driver of short-term and non-sustainable financial acceleration. Striking a balance on this double edged sword of financial liberalization depends rather on the quality of market governing institutions, i.e. regulatory quality, than political regime type. Substantially lower and decreasing private savings rates in democratic countries of the former USSR can be attributed to popular pressures for immediate consumption. This has been primarily financed by a rapid influx of foreign bank capital. In contrast, well-endowed countries characterized by more autocratic forms of governance seem to have relied more on repressive financial governance and resource revenues to safe-guard political and economic stability. From a public policy perspective, several immediate implications arise. It would seem a natural choice for resource poor economies to implement taxes aimed at cooling an excessive expansion of consumption credit and thereby to direct capital inflows toward more productive ends in the investment sector would present a natural choice. In addition, raising social security contributions may slow down households' consumption (in this case, household disposable income will be lower), although it may also undermine households' ability to save. For resource rich economies, research findings indicate that these economies could reduce forced private savings and increase current consumption levels, spurring domestic demand and overall economic welfare for their citizens. However, as this study has shown, financial liberalization can come at the expense of deteriorating domestic private savings rates, if not accompanied by substantial macroeconomic and regulatory reform.
Download or read book Determinants of Economic Growth in Transition Economies written by Yui Suzuki and published by . This book was released on 2014 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a modified two-gap model and analyses the impact of international trade and domestic savings on the economic growth in the transition countries. The model indicates that economic growth is constrained by domestic savings when the domestic savings are relatively scarce, whereas it is constrained by the availability of the foreign resources when the export capacity is relatively small. While the implications of the model are on the whole supported by the switching regression results, we yield an unexpected result, namely the negative relation between real GDP growth rate and domestic savings. This can be plausibly interpreted as the adjustment effect of the characteristics inherited from the old system, namely inefficiency in the centrally planned system and the high level of domestic savings. Alternatively, the weak financial intermediation in the transition economies and the prevalent banking crisis in relatively advanced transition countries can reconcile this unexpected relation.
Download or read book The Future of Saving written by Mr.David Amaglobeli and published by International Monetary Fund. This book was released on 2019-01-15 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.
Download or read book The Rate of Interest and Household Financial Saving in China s Transitional Economy written by Li Dong and published by . This book was released on 1992 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Evidence and Impact of Financial Globalization written by and published by Academic Press. This book was released on 2012-12-31 with total page 807 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp realities of financial globalization become clear during crises, when winners and losers emerge. Crises usher in short- and long-term changes to the status quo, and everyone agrees that learning from crises is a top priority. The Evidence and Impact of Financial Globalization devotes separate articles to specific crises, the conditions that cause them, and the longstanding arrangements devised to address them. While other books and journal articles treat these subjects in isolation, this volume presents a wide-ranging, consistent, yet varied specificity. Substantial, authoritative, and useful, these articles provide material unavailable elsewhere. Substantial articles by top scholars sets this volume apart from other information sources Rapidly developing subjects will interest readers well into the future Reader demand and lack of competitors underline the high value of these reference works
