Economic Development, Life-Cycle Consumption and Planning Hirizon

John Baffore-Bonnie and Mohammed Khayum
Authors registered in the RePEc Author Service: John Baffoe-Bonnie ()

International Economic Journal, 1997, vol. 11, issue 4, 17-37

Abstract: This article presents estimates of consumer planning horizons for countries at different levels of economic development. Within an intertemporal optimization framework a direct relationship is observed between the length of consumers' planning horizons and the level of economic development. In particular, consumption behavior in a sample of developed economies reflect longer planning horizons than in the sample of less developed economics. The average planning horizon for a group of less developed economies is about 7 months, while it is 1.6 and 3.8 years for middle and high income economies, respectively. [E21, O50]

Date: 1997
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Working Paper: Economic Development, Life Cycle Consumption, and Planning Horizons (1995)
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DOI: 10.1080/10168739700000024

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