 Saving in the worldFrancesco Grigoli (), Alexander Herman and Klaus Schmidt-Hebbel World Development, 2018, vol. 104, issue C, 257-270 Abstract: 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. Keywords: Consumption; Corporate saving; Global Financial Crisis; Household saving; National saving; Private saving (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:wdevel:v:104:y:2018:i:c:p:257-270 DOI: 10.1016/j.worlddev.2017.11.022 Access Statistics for this article World Development is currently edited by O. T. Coomes More articles in World Development from Elsevier |
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