Explaining aggregate private saving behaviour: new evidence from a panel of OECD countries

Julian Ramajo, Agustín García and Montserrat Ferré

Applied Financial Economics Letters, 2006, vol. 2, issue 5, 311-315

Abstract: This study analyses some of the empirical determinants of aggregate private saving rates for a panel of 21 OECD countries over the period 1964 to 2001. Among the fiscal determinants considered, there is evidence of an important trade-off between public and private saving and a negative effect of higher current public expenditure on private saving. Among the macroeconomic and financial variables introduced, the income growth rate is the most significant and has a positive effect on private saving. Finally, only a demographic variable, the urbanization rate, has a positive effect on private saving. Interestingly, the sub-sample formed by the G-7 countries shows substantial qualitative and quantitative differences in the determinants of aggregate private saving, particularly a reduction of the effects of the fiscal policy variables.

Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1080/17446540600675582 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:raflxx:v:2:y:2006:i:5:p:311-315

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rafl20

DOI: 10.1080/17446540600675582

Access Statistics for this article

Applied Financial Economics Letters is currently edited by Anita Phillips

More articles in Applied Financial Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().