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Gender effects on aggregate saving: A Theoretical and Empirical Analysis

  • Floro, Maria
  • Seguino, Stephanie

This study investigates the hypothesis that shifts in women’s relative income, which affects their bargaining power in the household, have discernible effects on aggregate saving due to differing saving propensities by gender. An analytical framework for pooled and non-pooled savings households is developed to examine why women and men’s saving propensities may differ and how a change in women’s wage earnings relative to men’s influences household savings. An empirical analysis is conducted using panel data for a set of 20 semi-industrialized economies, covering the period 1975-95. The results indicate that as some measures of women’s discretionary income and bargaining power increase, aggregate saving rates rise, implying a significant effect of gender on aggregate savings. These findings demonstrate the importance of understanding gender relations at the household level in planning for savings mobilization and in the formulation of financial and investment policies.

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File URL: http://mpra.ub.uni-muenchen.de/11271/1/MPRA_paper_11271.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6541.

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Date of creation: Mar 2002
Date of revision: Dec 2000
Handle: RePEc:pra:mprapa:6541
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  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.
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  3. Tim Callen & Christian Thimann, 1997. "Empirical Determinants of Household Saving; Evidence From OECD Countries," IMF Working Papers 97/181, International Monetary Fund.
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  8. Palsson, Anne-Marie, 1996. "Does the degree of relative risk aversion vary with household characteristics?," Journal of Economic Psychology, Elsevier, vol. 17(6), pages 771-787, December.
  9. Schmidt-Hebbel, Klaus & Webb, Steven B. & Corsetti, Giancarlo, 1991. "Household saving in developing countries : first cross-country evidence," Policy Research Working Paper Series 575, The World Bank.
  10. Jianakoplos, Nancy Ammon & Bernasek, Alexandra, 1998. "Are Women More Risk Averse?," Economic Inquiry, Western Economic Association International, vol. 36(4), pages 620-30, October.
  11. Carroll, Christopher D. & Weil, David N., 1994. "Saving and growth: a reinterpretation," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 40(1), pages 133-192, June.
  12. Christian Thimann & Anuradha Dayal-Gulati, 1997. "Saving in Southeast Asia and Latin America Compared; Searching for Policy Lessons," IMF Working Papers 97/110, International Monetary Fund.
  13. Sunden, Annika E & Surette, Brian J, 1998. "Gender Differences in the Allocation of Assets in Retirement Savings Plans," American Economic Review, American Economic Association, vol. 88(2), pages 207-11, May.
  14. Fry, Maxwell J, 1978. "Money and Capital or Financial Deepening in Economic Development?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(4), pages 464-75, November.
  15. 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.
  16. Phipps, Shelley A & Burton, Peter S, 1998. "What's Mine Is Yours? The Influence of Male and Female Incomes on Patterns of Household Expenditure," Economica, London School of Economics and Political Science, vol. 65(260), pages 599-613, November.
  17. Dornbusch, Rudiger & Reynoso, Alejandro, 1989. "Financial Factors in Economic Development," American Economic Review, American Economic Association, vol. 79(2), pages 204-09, May.
  18. Barro, Robert J & Lee, Jong Wha, 1996. "International Measures of Schooling Years and Schooling Quality," American Economic Review, American Economic Association, vol. 86(2), pages 218-23, May.
  19. Giovannini, Alberto, 1983. "The interest elasticity of savings in developing countries: The existing evidence," World Development, Elsevier, vol. 11(7), pages 601-607, July.
  20. Lundberg, S.J. & Pollak, R.A. & Wales, T.J., 1994. "Do Husbands and Wives Pool Their Resources? Evidence from U.K. Child Benefit," Working Papers 94-6, University of Washington, Department of Economics.
  21. Thomas, D., 1992. "The Distribution of Income and Expenditure within the Household," Papers 669, Yale - Economic Growth Center.
  22. Khaled Hussein & A. P. Thirlwall, 1999. "Explaining differences in the domestic savings ratio across countries: A panel data study," Journal of Development Studies, Taylor & Francis Journals, vol. 36(1), pages 31-52.
  23. Quisumbing, Agnes R. & Maluccio, John A., 2000. "Intrahousehold allocation and gender relations," FCND discussion papers 84, International Food Policy Research Institute (IFPRI).
  24. Brenner, R & Dagenais, Marcel G & Montmarquette, C, 1994. "An Overlooked Explanation of the Declining Saving Rate," Empirical Economics, Springer, vol. 19(4), pages 629-37.
  25. Haddad, L. & Hoddinott, J., 1991. "Gender Aspects of Household Expenditures and Resource Allocation in the Cote d'Ivoire," Economics Series Working Papers 99112, University of Oxford, Department of Economics.
  26. Fry, Maxwell J & Mason, Andrew, 1982. "The Variable Rate-of-Growth Effect in the Life-Cycle Saving Model: Children, Capital Inflows, Interest and Growth in a New Specification of the Life-Cycle Model Applied to Seven Asian Developing Count," Economic Inquiry, Western Economic Association International, vol. 20(3), pages 426-42, July.
  27. Doss, Cheryl R., 1996. "Women'S Bargaining Power In Household Economic Decisions: Evidence From Ghana," Staff Papers 13517, University of Minnesota, Department of Applied Economics.
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