Saving Rates in Latin American: Why Reformers Got It Wrong

Nola Reinhardt ()
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Nola Reinhardt: Department of Economics, Smith College

No 2007-01, Working Papers from Smith College, Department of Economics

Abstract: This study examines the saving behavior of 18 Latin American countries in the 1976-2000 period compared to a group of 25 other middle-income developing countries. Over this period, Latin American saving rates have been consistently below the comparison group, despite extensive economic reforms undertaken in the region during the late 1980s/early 1990s designed to improve saving performance. While reformers expected lower inflation, increased deposit rates, and greater macroeconomic stability to stimulate increased saving, this has not occurred. Using panel data, we find that, unlike in the control group, these factors did not affect saving behavior in Latin America in the expected manner.

JEL-codes: E21 O16 O23 O57 (search for similar items in EconPapers)
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