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Saving for Stability

In: SAVING FOR DEVELOPMENT: How Latin America and the Caribbean Can Save More and Better

Author

Listed:
  • Eduardo Fernández-Arias

    (Inter-American Development Bank)

  • Eduardo Cavallo

    (Inter-American Development Bank)

  • Matías Marzani

Abstract

Why should people--and economies--save? The typical answer usually focuses on the need to protect against future shocks, to smooth consumption during hard times, in short, to save for the proverbial rainy day. This book approaches the question from a slightly different angle. While saving to survive the bad times is important, saving to thrive in the good times is what really counts. People must save so they can invest in their own and their children's health and education, live productive fulfilling lives, and end their days in comfort and peace. Firms must save so they can grow productive enterprises that employ more workers in better jobs to produce quality goods for domestic and international markets. Governments must save to build bridges, highways, and airports that support a productive economy, to provide quality services such as education, health, water, and sanitation to their citizens, and to assure their senior citizens a dignified, worry-free retirement. In short, countries must save for a sunny day -a time when everyone can bask in the benefits of growth, prosperity, and well-being.

Suggested Citation

  • Eduardo Fernández-Arias & Eduardo Cavallo & Matías Marzani, 2016. "Saving for Stability," IDB Publications (Book Chapters), in: Eduardo Cavallo & Tomás Serebrisky (ed.), SAVING FOR DEVELOPMENT: How Latin America and the Caribbean Can Save More and Better, edition 1, chapter 5, pages 109-130, Inter-American Development Bank.
  • Handle: RePEc:idb:idbchp:7677-c5
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    Citations

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    Cited by:

    1. Piotrowska, Maria, 2019. "The importance of personality characteristics and behavioral constraints for retirement saving," Economic Analysis and Policy, Elsevier, vol. 64(C), pages 194-220.

    More about this item

    Keywords

    Domestic Saving Rate; Household Saving; Pension funds; Pensions Systems; Infrastructure Investment; Tax Revenue; Productivity Growth; Income Tax; Private Investment; Public investment; Financial Intermediaries; Financial institution; Economic Growth; Financial Systems; DIA; poupança nacional; national saving; poupança informal; inversión en infraestructura; ahorros formales; productividad; desarrollo económico; fondos de pensiones; ahorro nacional; poupança formal; ahorros informales; informal saving; tasa de ahorro; formal saving; Desarrollo en las Américas;
    All these keywords.

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • G2 - Financial Economics - - Financial Institutions and Services
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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