Saving in Latin America and Lessons from Europe: An Overview

The case studies collected in this volume provide insights into that and other related policy questions by examining what drives saving in Latin America. The studies cover Argentina, Chile, Colombia, Mexico, Peru, Uruguay, and Venezuela and span a variety of topics ranging from assessing the impact of financial liberalization on saving to determining the role of terms of trade shocks. Many of the studies also employ new data sources, that provide a better understanding of the saving patterns of the various agents in the economy--the public sector, firms, and households. All too often past studies have relied on highly aggregated data masking important differences across these sectors. Three of studies analyze the European experience (Italy, Spain, and the United Kingdom) with liberalization and structural reforms and its effects on saving. The aim of these studies is to provide insights as to what Latin American countries can expect in the wake of structural reform.