Macroeconomic Aspects, Foreign Flows and Domestic Savings Performance in Developing Countries: A "State of the Art" Report

Anand Chandavarkar

No 11, OECD Development Centre Working Papers from OECD Publishing

Abstract: This paper is a state-of-the-art report on the scope and efficacy of macroeconomic policies, both demand-management and supply-side, in relation to the level and composition of aggregate domestic savings (household, corporate, and government) performance in developing countries. Its central focus is on the extent to which macroeconomic policies help or hinder the optimal mobilisation and allocation of voluntary and contractual savings. It analyses: the impact of fiscal policies (fiscal balance, taxation, tax incentives); fiscal reforms and savings; and the interaction between Government and private savings; the financial repression and inflationary finance as contributory factors to low domestic savings; implications of financial liberalisation for savings and investment; the linkages between formal and informal finance; the regulatory, prudential, and developmental role of central banks; exchange rate and external finance policies and their bearing on capital flight and inflows of ... Le présent ouvrage fait le point des connaissances sur la portée et l'efficacité des politiques macroéconomiques (politiques de régulation à la fois de l'offre et de la demande) au regard du niveau et de la composition de l'épargne intérieure globale (ménages, sociétés et administrations publiques) dans les pays en développement. Il étudie essentiellement la mesure dans laquelle ces politiques contribuent ou font obstacle à la mobilisation et à l'affectation optimales de l'épargne volontaire et contractuelle. Il analyse : l'incidence des politiques budgétaires (équilibre budgétaire, imposition, incitations fiscales); les réformes fiscales et l'épargne; l'interaction entre épargne publique et épargne privée; la "répression" financière et le financement par l'inflation en tant que facteurs contribuant au faible niveau de l'épargne intérieure; les conséquences de la libéralisation financière sur l'épargne et l'investissement; les liens entre financement formel et financement ...

Date: 1990-02-01
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