Dynamiccs of Asian Savings: Role of Growth and Age Structure

International Monetary Fund

No 1988/049, IMF Working Papers from International Monetary Fund

Abstract: This paper shows how growth and demography, two important determinants of the savings rate in the life-cycle approach, explain a large part of the diversity in savings behavior in Asia across eight countries as well as over time. Inflation and adverse movements in the terms of trade are found to be two additional factors with depressing effects on the propensity to save. The paper also finds evidence in favor of the error-correction formulation under which the savings rate varies procyclically in the short run but remains constant in the steady state.

Keywords: WP; real rate of interest; rate of growth; savings rate; savings behavior; government saving; average propensity to save; Income; Personal income; Private savings; Inflation; Terms of trade; Asia and Pacific (search for similar items in EconPapers)
Pages: 37
Date: 1988-01-01
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=30379 (application/pdf)

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:imf:imfwpa:1988/049

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().