What Drives Private Saving Around the World?
World Bank, Development Research Group, Macroeconomics and Growth, 2000 - Ahorro - 32 pages
Saving rates vary considerably across countries and over time. Policies that spur development are an indirect but effective way to raise private saving rates, which rise with the level and growth rate of real per capita income.
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0.000 Sargan test 1st-order serial correlation 2nd-order serial correlation 3d-order serial 50 percent alternative estimators bounded between 50 central government column consumption corresponding credit flows Dependent variable descriptive statistics developing countries difference estimator differenced econometric equations error term estimated coefficients estimation results explanatory variables financial depth full sample GMM estimator GNDI GPS/GPDI Gross private income growth inflation rate instrumental variable instruments levels and growth Loayza macroeconomic measurement error national saving rate null hypothesis Number of observations OECD Old dependency ratio panel data paper percentage points private and national private disposable income private saving rate public saving ratio public sector Real GPDI real interest rate real per capita regressors Ricardian Ricardian equivalence saving determinants saving measures saving rate regressions Schmidt-Hebbel and Serven serial correlation p-value specification tests subsamples system estimator Table terms of trade Test for 1st-order Test for 2nd-order uncorrelated Urbanization ratio Wald test World Bank Young dependency ratio