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Household Savings in Transition Economies

  • Cevdet Denizer
  • Holger C. Wolf

Based on matching household surveys for three central European countries, Bulgaria, Hungary and Poland, we explore the determinants of household saving rates in transition economies. We find savings rates to increase strongly in relative income and to be significantly higher for households owning few of the standard consumer durables, consistent with anticipatory savings prior to durable purchases in the absence of retail credit markets. The influence of demographic factors broadly matches earlier findings for developing countries. Perhaps surprisingly, variables associated with the position of the household in the transition process, notably the sector of employment, plays no significant role in determining savings rates.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6457.

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Date of creation: Mar 1998
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Publication status: Published as "Large-Scale Privatization in Transition Economies", American Economic Review, Vol. 83, no. 5 (1993): 1199-1210.
Handle: RePEc:nbr:nberwo:6457
Note: IFM
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  8. Masao Ogaki & Jonathan David Ostry & Carmen Reinhart, 1995. "Saving Behavior in Low and Middle-Income Developing Countries; A Comparison," IMF Working Papers 95/3, International Monetary Fund.
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  10. Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-87, December.
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  12. Paul R. Gregory & Manouchehr Mokhtari & Wolfram Schrettl, 1999. "Do The Russians Really Save That Much? - Alternate Estimates From The Russian Longitudinal Monitoring Survey," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 694-703, November.
  13. Susan M. Collins, 1991. "Saving Behavior in Ten Developing Countries," NBER Chapters, in: National Saving and Economic Performance, pages 349-376 National Bureau of Economic Research, Inc.
  14. Gersovitz, Mark, 1988. "Saving and development," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 10, pages 381-424 Elsevier.
  15. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
  16. Peter Montiel & Eduardo Borensztein, 1991. "Savings, Investment, and Growth in Eastern Europe," IMF Working Papers 91/61, International Monetary Fund.
  17. Anne Case, 1995. "Symposium on Consumption Smoothing in Developing Countries," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 81-82, Summer.
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