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Countries in the hamster’s wheel?: Nurkse- Duesenberry demonstration effects and the determinants of saving

Andrés Rius and Carolina Román ()

Revista Cuadernos de Economía, 2021, vol. 40, issue 82, 193-225

Abstract: Throughout the world, stable regional patterns relating to private savings are hard to access. This article revisits the hypothesis that, as there is evidence of emulation patterns between consumers, there might be international (macroeconomic) “emulation†. We test demonstration effect theories exploiting international data on savings, incomes, and means of global exposure. We use two methods of media communication given that their penetration peaked at different times in the sample period: TV and internet were a means of discovering foreign consumption standards. With the resulting country panels, we find some evidence in favour of a statistically significant negative association for the demonstration effect. ****** El comportamiento de las tasas de ahorro permanece como un puzle aún sin resolver. Este artículo revisa la hipótesis de que, así como se encuentran comportamientos emulativos entre consumidores, es posible explorar la existencia de patrones de emulación internacionales. Testea el efecto demostración internacional sobre las tasas de ahorro utilizando un análisis de datos de panel y propone dos medidas de exposición a pautas de consumo globales —tenencia de televisión y uso de internet—. Los resultados aportan evidencia a favor de la existencia de una relación negativa estadísticamente significativa entre el efecto demostración y las tasas de ahorro. ****** O comportamento das taxas de poupanca continua sendo um quebra-cabeca sem solucao. Este artigo revisita a hipótese de que, além dos comportamentos emulativos entre consumidores, é possível explorar a existencia de padroes de emulacao internacionais. Testa o efeito de demonstracao internacional sobre as taxas de poupanca usando uma análise de dados em painel e propoe duas medidas de exposicao aos padroes de consumo globais—posse de televisao e uso de internet—. Os resultados fornecem evidencias a favor da existencia de uma relacao negativa estatisticamente significativa entre o efeito demonstracao e as taxas de poupanca.

Keywords: Private saving rates; demonstration effect; behavioural economics. (search for similar items in EconPapers)
JEL-codes: E21 E71 O16 (search for similar items in EconPapers)
Date: 2021
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