Saving, dependency and development
The widely-observed finding in the literature showing little or no relationship between population growth (and dependency) and saving requires modification based on panel and cross-section estimation of aggregate country data. While such a relationship is still weak in the hybrid Leff-type model, it is now found consistently over time and by stage of development in the Mason variable-growth life-cycle framework, where changes in demographic factors account for a notable part of saving. JEL classification: J11, O15, O16
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Volume (Year): 9 (1996)
Issue (Month): 4 ()
|Note:||Received July 11, 1995 / Accepted March 28, 1996|
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