The economics of saving and growth : theory, evidence, and implications for policy

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The economics of saving and growth : theory, evidence, and implications for policy

edited by Klaus Schmidt-Hebbel, Luis Servén

Cambridge University Press, 1999

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Includes bibliographical references and index

Description and Table of Contents

Description

Saving rates display great variation across countries and over time. They are also closely related to growth performance. This 1999 volume provides an account of key variables, institutions and policies that determine saving. Drawing from a systematic exploration of the existing literature, the collection summarizes knowledge about cross-country saving trends, the relation between saving and growth, the impact of financial policies and institutions on saving, the effect of foreign resource inflows on saving, and the links between income distribution and aggregate saving. In addition, new research results are presented on the two latter areas. The work has a strong empirical motivation: to help address real-world issues on consumption and saving in both industrial and developing countries, in order to assist in the design of rational and effective macroeconomic policies.

Table of Contents

  • Foreword Joseph Stiglitz
  • 1. Introduction
  • 2. Saving in the world: the stylized facts Klaus Schmidt-Hebbel
  • 3. Saving and growth Luis Serven
  • 4. Financial policies and saving Angus Deaton
  • 5. Foreign resource inflows, saving and growth Patrick Honohan
  • 6. Aggregate saving and income distribution Maurice Obstfeld.

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