articles: Regional differences in personal saving rates in Spain

Andrés J. Marchante (), Bienvenido Ortega and Francisco Trujillo ()
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Andrés J. Marchante: Department of Applied Economics, University of Malaga, Campus El Ejido, 29071 Málaga, Spain
Francisco Trujillo: Department of Applied Economics, University of Malaga, Campus El Ejido, 29071 Málaga, Spain

Papers in Regional Science, 2001, vol. 80, issue 4, 465-482

Abstract: The aim of this article is to analyze, from an aggregate perspective, the differences in personal saving rates among the Spanish regions at the NUTS II level from 1986 to 1994. In accordance with the postulates of the life cycle hypothesis, we present the main economic determinants for personal saving rates obtained from an aggregate personal saving model. Correcting for temporal and spatial dependence in the empirical model, the analysis suggests the existence of a significant and negative relationship between aggregate personal saving rates and wealth, access to credit and direct tax burdens. Likewise, a nearly significant positive relationship between personal saving rates and per capita gross disposable personal income has been detected.

Keywords: Personal saving; life cycle hypothesis; aggregate models; spatial dependence; panel data (search for similar items in EconPapers)
JEL-codes: E21 R15 R29 (search for similar items in EconPapers)
Date: 2001-10-25
Note: Received: 29 January 1999
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Citations: View citations in EconPapers (4)

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