IDEAS home Printed from https://ideas.repec.org/a/ioe/cuadec/v35y1998i104p3-48.html
   My bibliography  Save this article

Ahorro Privado en Chile

Author

Listed:
  • Dominique Hachette

    (Instituto de Economía)

Abstract

Private saving has experimented a very significant increase in the last twenty years in Chile. From negative figures in mid-seventies, it has reached levels over 16% of PNB in mid-nineties. Several hypothesis have been suggested to explain this behavior,

Suggested Citation

  • Dominique Hachette, 1998. "Ahorro Privado en Chile," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 35(104), pages 3-48.
  • Handle: RePEc:ioe:cuadec:v:35:y:1998:i:104:p:3-48
    as

    Download full text from publisher

    File URL: http://www.economia.uc.cl/docs/104hacha.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gelb, Alan H., 1989. "Financial policies, growth, and efficiency," Policy Research Working Paper Series 202, The World Bank.
    2. Valerie R. Bencivenga & Bruce D. Smith, 1991. "Financial Intermediation and Endogenous Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 195-209.
    3. Kotlikoff, Laurence J, 1984. "Taxation and Savings: A Neoclassical Perspective," Journal of Economic Literature, American Economic Association, vol. 22(4), pages 1576-1629, December.
    4. Schmidt-Hebbel, Klaus & Serven, Luis, 1996. "Income inequality and aggregate saving : the cross-country evidence," Policy Research Working Paper Series 1561, The World Bank.
    5. Gupta, Kanhaya L, 1987. "Aggregate Savings, Financial Intermediation, and Interest Rate," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 303-311, May.
    6. Fry, Maxwell J., 1980. "Saving, investment, growth and the cost of financial repression," World Development, Elsevier, vol. 8(4), pages 317-327, April.
    7. Gersovitz, Mark, 1988. "Saving and development," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 10, pages 381-424, Elsevier.
    8. Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991. "Public policies and saving in developing countries," Journal of Development Economics, Elsevier, vol. 36(1), pages 89-115, July.
    9. Barsky, Robert B & Mankiw, N Gregory & Zeldes, Stephen P, 1986. "Ricardian Consumers with Keynesian Propensities," American Economic Review, American Economic Association, vol. 76(4), pages 676-691, September.
    10. John Muellbauer, 1988. "Habits, Rationality and Myopia in the Life Cycle Consumption Function," Annals of Economics and Statistics, GENES, issue 9, pages 47-70.
    11. Modigliani, Franco, 1986. "Life Cycle, Individual Thrift, and the Wealth of Nations," American Economic Review, American Economic Association, vol. 76(3), pages 297-313, June.
    12. Martin Feldstein, 1980. "International Differences in Social Security and Saving," NBER Chapters, in: Econometric Studies in Public Finance, pages 225-244, National Bureau of Economic Research, Inc.
    13. Ishi, Hiromitsu, 1983. "An Overview of Postwar Tax Policies in Japan," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 23(2), pages 21-39, February.
    14. N. Gregory Mankiw & David Romer & David N. Weil, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 407-437.
    15. Titelman Kardonsky, Daniel & Uthoff, Andras & Held, Günther, 1995. "Indicators and determinants of savings for Latin America and the Caribbean," Series Históricas 9646, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Morande, Felipe G., 1998. "Savings in Chile. What went right?," Journal of Development Economics, Elsevier, vol. 57(1), pages 201-228, October.
    17. De Gregorio, Jose, 1992. "Economic growth in Latin America," Journal of Development Economics, Elsevier, vol. 39(1), pages 59-84, July.
    18. Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-926, Sept./Oct.
    19. Ricardo Caballero & Vittorio Corbo, 1986. "Análisis de la Balanza Comercial: Un Enfoque de Equilibrio General," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 23(70), pages 285-314.
    20. Schmidt-Hebbel, Klaus & Webb, Steven B & Corsetti, Giancarlo, 1992. "Household Saving in Developing Countries: First Cross-Country Evidence," The World Bank Economic Review, World Bank, vol. 6(3), pages 529-547, September.
    21. Vaidyanathan, Geetha, 1993. "Consumption, liquidity constraints and economic development," Journal of Macroeconomics, Elsevier, vol. 15(3), pages 591-610.
    22. Summers, Lawrence H, 1984. "The After-Tax Rate of Return Affects Private Savings," American Economic Review, American Economic Association, vol. 74(2), pages 249-253, May.
    23. Leff, Nathaniel H, 1969. "Dependency Rates and Savings Rates," American Economic Review, American Economic Association, vol. 59(5), pages 886-896, December.
    24. Guillermo A. Calvo, 1988. "Costly Trade Liberalizations: Durable Goods and Capital Mobility," IMF Staff Papers, Palgrave Macmillan, vol. 35(3), pages 461-473, September.
    25. Franco Modigliani & Arlie Sterling, 1983. "Determinants of Private Saving with Special Reference to the Role of Social Security—Cross-country Tests," International Economic Association Series, in: Franco Modigliani & Richard Hemming (ed.), The Determinants of National Saving and Wealth, chapter 2, pages 24-55, Palgrave Macmillan.
    26. repec:adr:anecst:y:1988:i:9:p:03 is not listed on IDEAS
    27. Giovannini, Alberto, 1985. "Saving and the real interest rate in LDCs," Journal of Development Economics, Elsevier, vol. 18(2-3), pages 197-217, August.
    28. Robert Holzmann, 1997. "Pension Reform, Financial Market Development, and Economic Growth: Preliminary Evidence from Chile," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 149-178, June.
    29. Juan Eduardo Coeymans, 1992. "Productividad, Salarios y Empleo en la Economía Chilena: un Enfoque de Oferta Agregada," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 29(87), pages 229-264.
    30. Nicola Rossi, 1989. "Dependency Rates and Private Savings Behavior in Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 36(1), pages 166-181, March.
    31. Schmidt-Hebbel, K. & Serven, L., 1997. "Saving Across the World: Puzzles and Policies," World Bank - Discussion Papers 354, World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rodrigo Cerda, 2006. "Pensiones en Chile: ¿Qué Hubiese Ocurrido sin la Reforma de 1981?," Documentos de Trabajo 310, Instituto de Economia. Pontificia Universidad Católica de Chile..
    2. Herman Bennett & Klauss Schmidt-Hebbel & Claudio Soto, 2000. "Nota técnica: Series de ahorro e ingreso por agente económico en Chile, 1960 - 1997," Estudios de Economia, University of Chile, Department of Economics, vol. 27(1 Year 20), pages 123-170, June.
    3. Andrea Butelmann & Francisco Gallego, 2001. "Household Saving in Chile (1988 and 1997): Testing the Life Cycle Hypothesis," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(113), pages 3-48.
    4. Cerda, Rodrigo & Fuentes, J. Rodrigo & García, Gonzalo & Llodrá, José Ignacio, 2015. "Understanding Domestic Savings in Chile," IDB Publications (Working Papers) 7254, Inter-American Development Bank.
    5. Felipe Morandé & Rodrigo Vergara, 2001. "Introducción: Análisis empírico del ahorro en Chile," Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel(Series Edito (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 1, pages 1- 12, Central Bank of Chile.
    6. Andrea Butelmann P & Francisco Gallego, 2000. "Household Saving in Chile: Microeconomic Evidence," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 3(1), pages 5-24, April.
    7. Andrea Butelmann P & Francisco Gallego, 2000. "Household Saving in Chile: Microeconomic Evidence," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 3(1), pages 5-24, April.
    8. Marcela PARADA‐CONTZEN, 2023. "Gender, family status and health characteristics: Understanding retirement inequalities in the Chilean pension model," International Labour Review, International Labour Organization, vol. 162(2), pages 271-303, June.
    9. Cerda, Rodrigo A., 2008. "Social Security and Wealth Accumulation in Developing Economies: Evidence from the 1981 Chilean Reform," World Development, Elsevier, vol. 36(10), pages 2029-2044, October.
    10. Rodrigo Vergara, 2001. "Determinantes del ahorro privado," Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 4, pages 83-104, Central Bank of Chile.
    11. Cerda, Rodrigo A., 2008. "The Chilean pension reform: A model to follow?," Journal of Policy Modeling, Elsevier, vol. 30(3), pages 541-558.
    12. Acuna R., Rodrigo & Iglesias P., Augusto, 2001. "Chile's pension reform after twenty years," Social Protection Discussion Papers and Notes 24079, The World Bank.
    13. Rodrigo Cerda & J. Rodrigo Fuentes & Gonzalo García & José Ignacio Llodrá, 2015. "Understanding Domestic Savings in Chile," IDB Publications (Working Papers) 91437, Inter-American Development Bank.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Prema-Chandra Athukorala & Pang-Long Tsai, 2003. "Determinants of Household Saving in Taiwan: Growth, Demography and Public Policy," Journal of Development Studies, Taylor & Francis Journals, vol. 39(5), pages 65-88.
    2. Edwards, Sebastian, 1996. "Why are Latin America's savings rates so low? An international comparative analysis," Journal of Development Economics, Elsevier, vol. 51(1), pages 5-44, October.
    3. Ismail, Aisha & Rashid, Kashif, 2013. "Determinants of household saving: Cointegrated evidence from Pakistan (1975–2011)," Economic Modelling, Elsevier, vol. 32(C), pages 524-531.
    4. Sebastian Edwards, 1995. "Why are Saving Rates so Different Across Countries?: An International Comparative Analysis," NBER Working Papers 5097, National Bureau of Economic Research, Inc.
    5. Zafar Iqbal, 1993. "Institutional Variations in Saving Behaviour in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 32(4), pages 1293-1311.
    6. Reinhart, Carmen M. & Talvi, Ernesto, 1998. "Capital flows and saving in Latin America and Asia: a reinterpretation," Journal of Development Economics, Elsevier, vol. 57(1), pages 45-66, October.
    7. Patrick Honohan, 1995. "The Impact of Financial and Fiscal Policies on Saving," Papers WP059, Economic and Social Research Institute (ESRI).
    8. Kivilcim Metin Ozcan & Asli Gunay & Seda Ertac, 2003. "Determinants of private savings behaviour in Turkey," Applied Economics, Taylor & Francis Journals, vol. 35(12), pages 1405-1416.
    9. Kieran Mc Morrow & Werner Röger, 2003. "Economic and financial market consequences of ageing populations," European Economy - Economic Papers 2008 - 2015 182, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    10. Norman Loayza & Klaus Schmidt-Hebbel & Luis Servén, 2001. "Una Revisión del COmportamiento y de los determinantes del ahorro en el mundo," Central Banking, Analysis, and Economic Policies Book Series, in: Felipe Morandé & Rodrigo Vergara & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Edit (ed.),Análisis Empírico del Ahorro en Chile, edition 1, volume 1, chapter 2, pages 13-48, Central Bank of Chile.
    11. Roubini, Nouriel & Sala-i-Martin, Xavier, 1995. "A growth model of inflation, tax evasion, and financial repression," Journal of Monetary Economics, Elsevier, vol. 35(2), pages 275-301, April.
    12. Neha Jain & Srinivas Goli, 2022. "Demographic change and private savings in India," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 24(1), pages 1-29, June.
    13. Schmidt-Hebbel, Klaus & Serven, Luis, 2000. "Does income inequality raise aggregate saving?," Journal of Development Economics, Elsevier, vol. 61(2), pages 417-446, April.
    14. Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento económico e intermediación bancaria: un análisis empírico para países latinoamericanos [Determinants of economic growth and bank intermediation: empirical analysis for," MPRA Paper 15514, University Library of Munich, Germany, revised 25 Nov 2008.
    15. Cardenas, Mauricio & Escobar, Andres, 1998. "Saving determinants in Colombia: 1925-1994," Journal of Development Economics, Elsevier, vol. 57(1), pages 5-44, October.
    16. Naeem AKRAM & Muhammad Irfan AKRAM, 2015. "Savings Behaviour In Muslim And Non-Muslim Countries In Context To The Interest Rate," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 25(2), pages 161-177.
    17. Alemayehu, Geda & Haile, Kebret, 2006. "Aggregate saving Behavior in Africa: a review of the Theory & the existing evidence with new empirical Results," Ethiopian Journal of Economics, Ethiopian Economics Association, vol. 12(1), pages 1-73.
    18. Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
    19. Mevlüt TATLIYER, 2017. "Determinants of Private Saving Level: Evidence from TurkeyAbstract: This paper attempts to ascertain the determinants of private saving level in Turkey. We implemented OLS estimations and constructed ," Sosyoekonomi Journal, Sosyoekonomi Society.
    20. Nola Reinhardt, "undated". "Saving Rates in Latin American: Why Reformers Got It Wrong," Working Papers 2007-01, Smith College, Department of Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ioe:cuadec:v:35:y:1998:i:104:p:3-48. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jaime Casassus (email available below). General contact details of provider: https://edirc.repec.org/data/iepuccl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.