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Private Savings in Eastern European EU-Accession Countries: Evidence from a Dynamic Panel Data Model

  • Mechthild Schrooten
  • Sabine Stephan

After the collapse in early transition years, saving rates in Eastern European EUaccession countries have recovered strongly. Is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country groups. Main results are: saving rates are persistent; income growth increases saving, whereas public saving crowds out private saving. Domestic saving and foreign capital operate as substitutes. Long-run effects of income growth and public saving are larger in the EU than in the candidate countries, indicating that saving behavior in the EU is determined to a larger extent by long-run perspectives than in the candidate countries.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.40789.de/dp372.pdf
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Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 372.

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Length: 36 p.
Date of creation: 2003
Date of revision:
Handle: RePEc:diw:diwwpp:dp372
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