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El ahorro y 1a tasa de interes real en los paises en desarrollo
[Saving and the Real Interest Rate in Developing Countries]

Author

Listed:
  • Reinhart, Carmen
  • Ostry, Jonathan

Abstract

Raising real interest rates has been cited as a way to increase private saving, and thus provide the resources for growth. But this may not be a viable approach in the poorest developing countries in which most people live at subsistence level. In these situations, consumption is not very responsive to fluctuations in real interest rates and financial liberalization my not be the catalyst to higher higher saving rates.

Suggested Citation

  • Reinhart, Carmen & Ostry, Jonathan, 1995. "El ahorro y 1a tasa de interes real en los paises en desarrollo
    [Saving and the Real Interest Rate in Developing Countries]
    ," MPRA Paper 13733, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:13733
    as

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    File URL: https://mpra.ub.uni-muenchen.de/13733/1/MPRA_paper_13733.pdf
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    References listed on IDEAS

    as
    1. Jonathan D. Ostry & Carmen M. Reinhart, 1992. "Private Saving and Terms of Trade Shocks: Evidence from Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 495-517, September.
    2. Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
    3. Jonathan D. Ostry & Carmen M. Reinhart, 1992. "Private Saving and Terms of Trade Shocks: Evidence from Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 495-517, September.
    4. Masao Ogaki & Jonathan D. Ostry & Carmen M. Reinhart, 1996. "Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 38-71, March.
    5. Kaminsky, Graciela L. & Pereira, Alfredo, 1996. "The debt crisis: lessons of the 1980s for the 1990s," Journal of Development Economics, Elsevier, vol. 50(1), pages 1-24, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Combey, Adama, 2016. "Private Consumption in The WAEMU Zone: Does Interest Rates Matter?," MPRA Paper 75144, University Library of Munich, Germany.
    2. Juan Carlos Echeverry, 1996. "The Fall in Colombian savings during the 1990s. Theory and evidence," BORRADORES DE ECONOMIA 003593, BANCO DE LA REPÚBLICA.
    3. Sanchita Mukherjee & Rina Bhattacharya, 2011. "Inflation Targeting and Monetary Policy Transmission Mechanisms in Emerging Market Economies," IMF Working Papers 11/229, International Monetary Fund.
    4. Adam McCarty, 2001. "Microfinance in Vietnam - A Survey of Schemes and Issues," Finance 0110001, EconWPA.
    5. Juan Carlos Echeverry G., 1996. "Short Run Savings Fluctuations And Export Shocks.Theory And Evidence For Latin-America," BORRADORES DE ECONOMIA 003498, BANCO DE LA REPÚBLICA.
    6. Peter J. Stauvermann, 2013. "Does Globalization Lead to a Rat Race of National Labor-Market Institutions?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(1), pages 73-87, March.
    7. Sanchita Mukherjee & Rina Bhattacharya, 2015. "Do the Keynesian monetary transmission mechanisms work in the MENA region?," Empirical Economics, Springer, vol. 48(3), pages 969-982, May.

    More about this item

    Keywords

    consumo ahorro tasas de interes liberalizacion financiera;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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