Does financial market development stimulate savings? Evidence from emerging market stock markets
AbstractThis paper examines the empirical relation between financial market development, as measured by the stock market, and gross private savings rates in 16 emerging markets over 1982-1993. With data from all 16 countries, there is evidence of a significant positive relation between savings and stock market size and liquidity. When countries with outlying values for the stock market measures are excluded, however, all significance disappears. The results suggest that we should not assume that a growing or deepening stock market will necessarily be associated with higher savings rates.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Federal Reserve Bank of Kansas City in its series Research Working Paper with number 96-09.
Date of creation: 1996
Date of revision:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Levine, Ross & Zervos, Sara, 1998.
"Stock Markets, Banks, and Economic Growth,"
American Economic Review,
American Economic Association, vol. 88(3), pages 537-58, June.
- Levine, Ross & Zervos, Sara, 1996. "Stock markets, banks, and economic growth," Policy Research Working Paper Series 1690, The World Bank.
- Ross Levine & Sara Zervos, . "Stock markets, banks and economic growth ," CERF Discussion Paper Series 95-11, Economics and Finance Section, School of Social Sciences, Brunel University.
- Oriana Bandiera & Gerard Caprio & Patrick Honohan & Fabio Schiantarelli, 2000.
"Does Financial Reform Raise or Reduce Saving?,"
The Review of Economics and Statistics,
MIT Press, vol. 82(2), pages 239-263, May.
- Ross Levine, 1997. "Napoleón, bolsas y crecimiento en América Latina," Research Department Publications 4107, Inter-American Development Bank, Research Department.
- Ross Levine, 1997. "Napoleon, Bourses, and Growth in Latin America," Research Department Publications 4106, Inter-American Development Bank, Research Department.
- Bandiera, Oriana & Caprio, Gerard & Honohan, Patrick & Schiantarelli, Fabio, 1999. "Does financial reform increase or reduce savings ?," Policy Research Working Paper Series 2062, The World Bank.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lu Dayrit).
If references are entirely missing, you can add them using this form.