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Cross-Country Private Saving Heterogeneity and Culture

Listed author(s):
  • M. Castro Campos

    ()

  • C. Kool

    ()

  • J. Muysken

    ()

Motivated by the dominant role of cross-country heterogeneity in private saving in the creation of Eurozone imbalances over the past decade, we empirically investigate the determinants of private saving for a sample of 30 OECD countries over the period 1990–2010. In addition to standard macroeconomic variables, we include three country-specific cultural indicators, derived from the World and European Value Surveys. We find these three variables—thrift, trust and religiosity—to significantly contribute to the explanation of cross country saving heterogeneity both for the OECD group at large and for the Eurozone countries separately. Copyright Springer Science+Business Media New York 2013

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File URL: http://hdl.handle.net/10.1007/s10645-013-9204-6
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Article provided by Springer in its journal De Economist.

Volume (Year): 161 (2013)
Issue (Month): 2 (June)
Pages: 101-120

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Handle: RePEc:kap:decono:v:161:y:2013:i:2:p:101-120
DOI: 10.1007/s10645-013-9204-6
Contact details of provider: Web page: http://www.springer.com

Order Information: Web: http://www.springer.com/economics/journal/10645/PS2

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