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Household Saving in Developing Countries - Inequality, Demographics and All That: How Different are Latin America and South East Asia?

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  • Miguel Székely
  • Orazio P. Attanasio

Abstract

East Asia and Latin America have diverged in several dimensions in the past three decades. This paper compares household saving behavior in two countries in each region (Mexico, Peru, Thailand and Taiwan). We make four contributions. First, we provide the first comparisons of savings in these two regions at the micro level using synthetic cohort techniques. Second, rather than focusing only on total household saving, as is common in the literature, we disaggregate the population into education groups to determine whether there are differences in saving behavior along the distribution of income. Third, we construct forecasts of future aggregate household saving rates, based on demographic projections. Fourth, we provide evidence that allows for testing the relevance of the life cycle model for explaining the differences in saving behavior.

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Bibliographic Info

Paper provided by Inter-American Development Bank, Research Department in its series Research Department Publications with number 4221.

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Date of creation: Jul 2000
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Handle: RePEc:idb:wpaper:4221

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  1. Barro, Robert J. & Lee, Jong-Wha, 1993. "International comparisons of educational attainment," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 363-394, December.
  2. Orazio Attanasio, 1993. "A cohort analysis of saving behaviour by US households," IFS Working Papers W93/04, Institute for Fiscal Studies.
  3. Orazio P. Attanasio & James Banks & Costas Meghir & Guglielmo Weber, 1995. "Humps and Bumps in Lifetime Consumption," NBER Working Papers 5350, National Bureau of Economic Research, Inc.
  4. Attanasio, Orazio P & Browning, Martin, 1995. "Consumption over the Life Cycle and over the Business Cycle," American Economic Review, American Economic Association, vol. 85(5), pages 1118-37, December.
  5. Chris Carroll & Lawrence H. Summers, 1989. "Consumption Growth Parallels Income Growth: Some New Evidence," NBER Working Papers 3090, National Bureau of Economic Research, Inc.
  6. Giovanni L. Violante & Orazio P. Attanasio, 2000. "The Demographic Transition in Closed and Open Economies: A Tale of Two Regions," Research Department Publications 4194, Inter-American Development Bank, Research Department.
  7. Suzanne Duryea & Jere R. Behrman & Miguel Székely, 1999. "Schooling Investments and Macroeconomic Conditions: A Micro-Macro Investigation for Latin America and the Caribbean," Research Department Publications 4184, Inter-American Development Bank, Research Department.
  8. Browning, Martin & Deaton, Angus & Irish, Margaret, 1985. "A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle," Econometrica, Econometric Society, vol. 53(3), pages 503-43, May.
  9. Orazio P. Attanasio, 1998. "Cohort Analysis of Saving Behavior by U.S. Households," Journal of Human Resources, University of Wisconsin Press, vol. 33(3), pages 575-609.
  10. Angus S. Deaton & Christina Paxson, 1994. "Saving, Growth, and Aging in Taiwan," NBER Chapters, in: Studies in the Economics of Aging, pages 331-362 National Bureau of Economic Research, Inc.
  11. Christina Paxson, 1995. "Saving and Growth: Evidence from Micro Data," NBER Working Papers 5301, National Bureau of Economic Research, Inc.
  12. repec:fth:inadeb:412 is not listed on IDEAS
  13. David A. Wise, 1989. "The Economics of Aging," NBER Books, National Bureau of Economic Research, Inc, number wise89-1, July.
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