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Deregulation and Consumption: Saving Dynamics in the Nordic Countries

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  • Olli-Pekka Lehmussaari

    (International Monetary Fund)

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    Abstract

    Changes in saving behavior brought about by financial liberalization in the Nordic countries are examined. Although this paper suggests that there have been changes in the economic relationships in Denmark and Finland, the evidence from Norway is less conclusive, and the data do not reveal any structural change in Sweden. The results also indicate that the wealth effect has played an increasing role in household saving decisions. Since the present tax rules are biased against saving, cuts in marginal tax rates and reductions in the tax value of interest payments would be expected to increase household saving.

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.

    Volume (Year): 37 (1990)
    Issue (Month): 1 (March)
    Pages: 71-93

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    Handle: RePEc:pal:imfstp:v:37:y:1990:i:1:p:71-93

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    Cited by:
    1. Aron, Janine & Muellbauer, John & Prinsloo, Johan, 2006. "Estimating the Balance Sheet of the Personal Sector in an Emerging Market Country: South Africa 1975-2003," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2006/99, World Institute for Development Economic Research (UNU-WIDER).
    2. Erlandsen, Solveig & Nymoen, Ragnar, 2005. "Consumption and population age structure," Memorandum, Oslo University, Department of Economics 27/2004, Oslo University, Department of Economics.
    3. Barry Eichengreen and Carlos Arteta., 2000. "Banking Crises in Emerging Markets: Presumptions and Evidence," Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley C00-115, University of California at Berkeley.
    4. Brissimis, Sophocles N. & Hondroyiannis, George & Papazoglou, Christos & Tsaveas, Nicholas T. & Vasardani, Melina A., 2010. "Current account determinants and external sustainability in periods of structural change," Working Paper Series, European Central Bank 1243, European Central Bank.
    5. Luis Zambrano Sequín & Matías Riutort & Rafael Muñoz & Juan Carlos Guevara, 1998. "El ahorro privado en Venezuela: Tendencias y determinantes," Research Department Publications, Inter-American Development Bank, Research Department 3021, Inter-American Development Bank, Research Department.
    6. Bandiera, Oriana & Caprio, Gerard & Honohan, Patrick & Schiantarelli, Fabio, 1999. "Does financial reform increase or reduce savings ?," Policy Research Working Paper Series, The World Bank 2062, The World Bank.
    7. Janine Aron & John Muellbauer, 2004. "Revised Estimates of Personal Sector Wealth for South Africa," Development and Comp Systems, EconWPA 0409070, EconWPA.
    8. Mpabe Bodjongo, Mathieu Juliot, 2012. "Infrastructures institutionnelles et développement financier en zone CEMAC
      [Institutional infrastructures and financial development in zone CEMAC]
      ," MPRA Paper 37824, University Library of Munich, Germany.
    9. Elin Halvorsen, 2003. "Financial Deregulation and Household Saving. The Norwegian Experience Revisited," Discussion Papers, Research Department of Statistics Norway 361, Research Department of Statistics Norway.
    10. Patrick Honohan, 1995. "The Impact of Financial and Fiscal Policies on Saving," Papers, Economic and Social Research Institute (ESRI) WP059, Economic and Social Research Institute (ESRI).
    11. Pedersen, Karsten N., 1991. "Intertemporal substitution in consumption : evidence for some high- and middle-income countries," Policy Research Working Paper Series, The World Bank 641, The World Bank.

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