Saving in the world

被引：30

作者：

Grigoli, Francesco ^{[1
]}

Herman, Alexander ^{[2
]}

Schmidt-Hebbel, Klaus ^{[3
]}

机构：

[1] Int Monetary Fund, Res Dept, 700 19th St NW, Washington, DC 20431 USA

[2] US Dept Treasury, Off Int Affairs, Washington, DC 20226 USA

[3] Pontificia Univ Catolica Chile, Inst Econ, Santiago, Chile

来源：

WORLD DEVELOPMENT | 2018年 / 104卷

关键词：

Consumption; Corporate saving; Global Financial Crisis; Household saving; National saving; Private saving; PANEL-DATA; CONSUMPTION; INCOME; MODELS; DETERMINANTS; EQUIVALENCE; HYPOTHESIS; COUNTRIES; POLICY; TESTS;

D O I：

10.1016/j.worlddev.2017.11.022

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in several dimensions. After extensively surveying the relevant theoretical and empirical literature, the paper reports estimates of saving determinants relying on the newly constructed and largest available database covering 165 countries over 1981-2012. The empirical specification includes determinants not considered in the literature, explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups, searches for commonalities across key saving aggregates (national, private, household, and corporate saving rates), and is subject to a robustness analysis based on different estimation techniques. The results confirm in part existing research, but also shed light on some ambiguous or contradictory findings and highlight the role of neglected determinants. Compared to the literature, we find a larger number of significant determinants, changes across periods and country groups, and similarities across different saving aggregates. (C) 2017 Elsevier Ltd. All rights reserved.

引用

页码：257 / 270

页数：14