Gone with the Wind: Demographic Transition and Domestic Saving

Eduardo Cavallo, Gabriel Sanchez and Patricio Valenzuela
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Gabriel Sanchez: Inter-American Development Bank

Working Papers from University of Pennsylvania, Wharton School, Weiss Center

Abstract: This study explores the relationship between demographic factors and saving rates using a panel dataset covering 110 countries between 1963 and 2012. In line with predictions from theory, this paper finds that lower dependency rates and greater longevity increase domestic saving rates. However, these effects are statistically robust only in Asia. In particular, Latin America, which is a region that has undergone a remarkably similar demographic transition, did not experience the same boost in saving rates as Asia. The paper highlights that the potential dividends arising from a favorable demographic transition are not automatically accrued. This is a sobering message at a time when the demographic tide is shifting in the world.

JEL-codes: E21 J10 O16 (search for similar items in EconPapers)
Date: 2016-04
New Economics Papers: this item is included in nep-age, nep-lam, nep-mac and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Gone with the wind: Demographic transitions and domestic saving (2018)
Working Paper: Gone with the wind: demographic transitions and domestic saving (2016)
Working Paper: Gone with the Wind: Demographic Transitions and Domestic Saving (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:upafin:16-04

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