Saving Rates in Latin American: Why Reformers Got It Wrong
AbstractThis study examines the saving behavior of 18 Latin American countries in the 1976-2000 period compared to a group of 25 other middle-income developing countries. Over this period, Latin American saving rates have been consistently below the comparison group, despite extensive economic reforms undertaken in the region during the late 1980s/early 1990s designed to improve saving performance. While reformers expected lower inflation, increased deposit rates, and greater macroeconomic stability to stimulate increased saving, this has not occurred. Using panel data, we find that, unlike in the control group, these factors did not affect saving behavior in Latin America in the expected manner.
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Bibliographic InfoPaper provided by Smith College, Department of Economics in its series Working Papers with number 2007-01.
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Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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