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Economic Liberalization and Savings Rates

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  • Kashif Mansori

Abstract

This paper considers the possibility that economic liberalization, by which is meant a reduction in tariffs, quotas, capital controls, and other government distortions of international transactions, may reduce private savings rates. A two stage approach is used to analyze a panel data set covering OECD countries during the past two decades. The conclusion is that there is a significant and robust relationship between economic liberalization and lower rates of savings. One implication is that at least part of the decline in savings rates in some countries over the past two decades may be explained by the liberalization process.

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  • Kashif Mansori, 2001. "Economic Liberalization and Savings Rates," CESifo Working Paper Series 418, CESifo Group Munich.
  • Handle: RePEc:ces:ceswps:_418
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    File URL: http://www.cesifo-group.de/DocDL/cesifo_wp418.pdf
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    7. 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.
    8. Guillermo A. Calvo & Allan Drazen, 1997. "Uncertain Duration of Reform: Dynamic Implications," NBER Working Papers 5925, National Bureau of Economic Research, Inc.
    9. Masson, Paul R & Bayoumi, Tamim & Samiei, Hossein, 1998. "International Evidence on the Determinants of Private Saving," World Bank Economic Review, World Bank Group, vol. 12(3), pages 483-501, September.
    10. Agell, Jonas & Berg, Lennart, 1996. " Does Financial Deregulation Cause a Consumption Boom?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 98(4), pages 579-601, December.
    11. Haque, N. U. & Pesaran, M. H. & Sharma, Sunil, 1999. "Neglected Heterogeneity and Dynamics in Cross-country Savings Regressions," Cambridge Working Papers in Economics 9904, Faculty of Economics, University of Cambridge.
    12. Bergman, U. Michael & Hutchison, Michael M., 1999. "The 'German View' and Consumption Booms: Empirical Evidence from Denmark," Working Papers 1999:3, Lund University, Department of Economics.
    13. repec:cup:macdyn:v:2:y:1998:i:4:p:443-55 is not listed on IDEAS
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