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World saving: trends and theories

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  • Klaus Schmidt-Hebbel
  • Luis Servén

Abstract

The world's average saving rate has declined for the last two decades but country saving rates exhibit a large dispersion, especially in developing regions. While in a small number of developing countries saving has risen substantially if -along with growth- saving has stagnated or even declined in most industrial, developing, and transition economies. This paper provides evidence on the evolution of world and regional saving rates and their correlation with selected variables. It also surveys conventional and more recent saving/consumption theories that are potentially relevant in explaining world saving patterns and correlations. Finally it identifies a selective number of research puzzles and policy issues that merit further research.

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Bibliographic Info

Article provided by University of Chile, Department of Economics in its journal Estudios de Economia.

Volume (Year): 25 (1998)
Issue (Month): 2 Year 1998 (December)
Pages: 191-215

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Handle: RePEc:udc:esteco:v:25:y:1998:i:2:p:191-215

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Web page: http://www.econ.uchile.cl/
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Keywords: Saving rate; trends; developing countries.;

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Cited by:
  1. World Bank, 2011. "Turkey - Country Economic Memorandum (CEM) : Sustaining High Growth - The Role of Domestic savings : Synthesis Report," World Bank Other Operational Studies 12264, The World Bank.
  2. Baker Matthew J. & George Lisa M, 2010. "The Role of Television in Household Debt: Evidence from the 1950's," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-38, May.
  3. Grilli, Enzo, 2005. "Political economy and economic development in Latin America in the second half of the 20th century," Journal of Policy Modeling, Elsevier, vol. 27(1), pages 1-31, February.

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