Download or read book What Drives Private Saving Around the World written by Norman Loayza and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving rates vary considerably across countries and over time. Policies that spur development are an indirect but effective way to raise private saving rates - which rise with the level and growth rate of real per capita income.Loayza, Schmidt-Hebbel, and Serveacute;n investigate the policy and nonpolicy factors behind saving disparities, using a large panel data set and an encompassing approach including several relevant determinants of private saving. They extend the literature in several dimensions by:middot; Using the largest data set on aggregate saving assembled to date.middot; Using panel instrumental variable techniques to correct for endogeneity and heterogeneity.middot; Performing robustness checks on changes in estimation procedures, data samples, and model specification.Their main empirical findings:middot; Private saving rates show considerable inertia (are highly serially correlated even after controlling for other relevant factors).middot; Private saving rates rise with the level and growth rate of real per capita income. So policies that spur development are an indirect but effective way to raise private saving rates.middot; Predictions of the life-cycle hypothesis are supported in that dependency ratios generally have a negative effect on private saving rates.middot; The precautionary motive for saving is supported by the finding that inflation - conventionally taken as a summary measure of macroeconomic volatility - has a positive impact on private saving, holding other facts constant.middot; Fiscal policy is a moderately effective tool for raising national saving.middot; The direct effects of financial liberalization are largely detrimental to private saving rates. Greater availability of credit reduces the private saving rate; financial depth and higher real interest rates do not increase saving.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand the determinants of saving in developing countries. The study was funded by the Bank`s Research Support Budget under the research project Saving in the World: Puzzles and Policies (RPO 681-36). The authors may be contacted at [email protected] or [email protected].
Download or read book What Drives Private Saving Around the World written by Norman Loayza and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving rates vary considerably across countries and over time. Policies that spur development are an indirect but effective way to raise private saving rates, which rise with the level and growth rate of real per capita income.
Download or read book What Drives Private Saving Around the World written by Norman Loayza and published by World Bank Publications. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving rates vary considerably across countries and over time. Policies that spur development are an indirect but effective way to raise private saving rates, which rise with the level and growth rate of real per capita income.
Download or read book What Drives Private Saving Across the World written by Norman Loayza and published by . This book was released on 2017 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving rates display considerable variation across countries and over time. This paper investigates empirically the policy and non-policy factors behind these saving disparities using a large, cross-country, time-series data set and following an encompassing approach including a number of relevant private saving determinants. The paper extends the literature in several dimensions. It uses the largest data set on aggregate saving assembled to date and explores both national and private saving determinants. It uses panel instrumental-variable techniques to correct for endogeneity and heterogeneity. Finally, it performs a variety of robustness checks to changes in estimation procedures, data samples, and model specification.
Download or read book What Drives Private Saving Across the World written by Norman Loayza and published by . This book was released on 1999 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Saving Across the World written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1997-01-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: World Bank Technical Paper No. 349. The Bank's approach to water resources development has shifted from one of construction activities to one of improved management quality, creating a new generation of water-related projects and the need for new evaluation procedures. This paper addresses the methodology for economic evaluation of this new group of projects and draws on the experience of the recently approved Mexico Water Resources Management project.
Download or read book World Saving written by Francesco Grigoli and published by International Monetary Fund. This book was released on 2014-11-13 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different estimation techniques. Third, the empirical search is expanded by including potential saving determinants identified by theory but not previously considered in the empirical literature. Fourth, the paper explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups. Finally, it also searches for commonalities and differences in behavior across national, private, household, and corporate saving rates. The results confirm in part existing research, shed light on some ambiguous or contradictory findings, and highlight the role of neglected determinants. Compared to the literature, we find a larger number of significant determinants of saving rates, using different estimators, for different periods and country groups, and for different saving aggregates.
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 Economics of Saving and Growth written by Klaus Schmidt-Hebbel and published by Cambridge University Press. This book was released on 1999-05-13 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: A look at major research and policy issues surrounding saving across the world, first published in 1999.
Download or read book Why are Saving Rates So Different Across Countries written by Sebastian Edwards and published by . This book was released on 1995 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the determinants of savings in the world economy, and discusses why saving ratios have been so uneven across countries. A distinction is made between private and government savings, using panel data for 36 countries, from 1970 to 1992. In particular, it is assumed that government savings are not completely exogenous, and respond to both economic and political (strategic) determinants, along the lines of the recent literature on the political economy of macroeconomic policy. Using instrumental variables estimation methods it is found that per capita growth is one of the most important determinants of both private and public savings. The results indicate that government-run social security systems affect private savings negatively. In addition, the results provide some support for the political economy perspective to government finances, which evidences a different underlying process determining public savings. Public savings tend to be lower in countries with higher political instability. Higher government savings crowd out private savings, but in a less than proportional fashion. Higher levels of foreign savings - i.e. reductions in the current account balance - are associated with lower domestic (both private and public) saving rates, although the degree of offset is also less than proportional. The degree of financial development turns out to be another important determinant of private savings. The results are mixed regarding the role of borrowing constraints - a topic deserving additional research attention.
Download or read book Saving in Latin America and the Caribbean written by Francesco Grigoli and published by International Monetary Fund. This book was released on 2015-05-18 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes saving patterns and determinants in Latin America and the Caribbean (LAC), including key policy variables and regimes. The review of previous empirical studies on LAC saving reveals contradictions and omissions. This paper presents empirical results of an extensive search of determinants of private and public saving rates, adding previously neglected variables (including different measures of key external prices and macroeconomic policy regimes), in linear form and in interactions with other saving determinants. It analyzes statistical differences in saving determinants between LAC and the rest of the world in a nested econometric framework, and discusses differences across three country subgroups within LAC. The results highlight commonalities and differences in saving behavior between LAC and other world regions, as well as within LAC, identifying the role of key policy variables and regimes.
Download or read book International Evidence on the Determinants of Private Saving written by Paul R. Masson and published by . This book was released on 2006 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: A broad set of possible determinants of private saving behavior is examined, using data for a large sample of industrial and developing countries. Both time-series and cross-section estimates are obtained. Results suggest that there is a partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have positive, but less robust, effects. Increases in per capita GDP seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones.
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 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 International Evidenceon the Determinants of Private Saving written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1995-05 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: A broad set of possible determinants of private saving behavior is examined, using data for a large sample of industrial and developing countries. Both time-series and cross-section estimates are obtained. Results suggest that there is a partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have positive, but less robust, effects. Increases in per capita GDP seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones.
Download or read book Saving and Investment in a Global Economy written by Barry Bosworth and published by Brookings Institution Press. This book was released on 1993 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this provocative book by one of the nation's leading economists, Barry Bosworth argues that trade disparities are not the result of external infraction, but rather a reflection of domestic failures.
Download or read book Saving in Latin America and the Caribbean written by Francesco Grigoli and published by International Monetary Fund. This book was released on 2015-05-18 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes saving patterns and determinants in Latin America and the Caribbean (LAC), including key policy variables and regimes. The review of previous empirical studies on LAC saving reveals contradictions and omissions. This paper presents empirical results of an extensive search of determinants of private and public saving rates, adding previously neglected variables (including different measures of key external prices and macroeconomic policy regimes), in linear form and in interactions with other saving determinants. It analyzes statistical differences in saving determinants between LAC and the rest of the world in a nested econometric framework, and discusses differences across three country subgroups within LAC. The results highlight commonalities and differences in saving behavior between LAC and other world regions, as well as within LAC, identifying the role of key policy variables and regimes.
