Saving and Capital Market Imperfections: The Italian Experience
Italy's saving rate is high by international standards, even when differences in growth are taken into account. The authors argue that credit and insurance market imperfections provide a plausible explanation for the high Italian saving rate. They also reject the potential roles of the public sector, informal financial arrangements, bequests, and the slope of the earnings profile as alternative explanations of the evidence. Copyright 1992 by The editors of the Scandinavian Journal of Economics.
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Volume (Year): 94 (1992)
Issue (Month): 2 ()
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