International Evidenceon The Determinants Of Private Saving

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International Evidence On The Determinants Of Private Saving

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Author : Paul Masson
language : en
Publisher:
Release Date : 1995

International Evidence On The Determinants Of Private Saving written by Paul Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.

International Evidence On The Determinants Of Private Saving

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Author : Paul R. Masson
language : en
Publisher:
Release Date : 2006

International Evidence On The Determinants Of Private Saving written by Paul R. Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

A broad set of possible determinants of private saving behavior is examined, using data for a large sample of industrial and developing countries. Both time-series and cross-section estimates are obtained. Results suggest that there is a partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have positive, but less robust, effects. Increases in per capita GDP seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones.

International Evidenceon The Determinants Of Private Saving

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Author : Mr.Paul R. Masson
language : en
Publisher: International Monetary Fund
Release Date : 1995-05

International Evidenceon The Determinants Of Private Saving written by Mr.Paul R. Masson and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-05 with Business & Economics categories.

A broad set of possible determinants of private saving behavior is examined, using data for a large sample of industrial and developing countries. Both time-series and cross-section estimates are obtained. Results suggest that there is a partial offset on private saving of changes in public saving and (for developing countries) in foreign saving, that demographics and growth are important determinants of private saving rates, and that interest rates and terms of trade have positive, but less robust, effects. Increases in per capita GDP seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones.

Empirical Determinants Of Household Saving

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Author : Mr.Tim Callen
language : en
Publisher: International Monetary Fund
Release Date : 1997-12-01

Empirical Determinants Of Household Saving written by Mr.Tim Callen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-12-01 with Business & Economics categories.

This paper analyzes the empirical determinants of household saving using data from 21 OECD countries for 1975-95. A particular focus is the influence of the tax and social security systems on household saving. The paper therefore extends the usual set of explanatory variables used to explain household saving behavior to include variables that capture the structure of the tax system and the financing and generosity of the social security and welfare system. These variables are found to have an important impact on household saving. Accordingly, by changing the design of these systems, governments may be able to influence saving.

Private Saving In Colombia

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Author : Mr.Alejandro Lopez Mejia
language : en
Publisher: International Monetary Fund
Release Date : 1998-12-01

Private Saving In Colombia written by Mr.Alejandro Lopez Mejia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-12-01 with Business & Economics categories.

This paper studies the main determinants of the sharp decline in Colombia’s private saving rate which accompanied the steep deterioration of the country’s external current account deficit in the 1990s. The paper rejects current arguments pointing to a consumption boom and corporate behavior as the main causes of the decline. It concludes that: private consumption, explained mainly by permanent income, has only increased moderately in the 1990s; household behavior—not corporate behavior—determines private saving; and tax increases do not entirely explain the fall of private saving. Thus, reliance on external saving could be reduced by increasing public saving.

Saving Behavior In Low And Middle Income Developing Countries

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Author : Masao Ogaki
language : en
Publisher:
Release Date : 1995

Saving Behavior In Low And Middle Income Developing Countries written by Masao Ogaki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.

The impact of changes in real interest rates on saving and growth is a central issue in development economics. According to one familiar view, a financial liberalization program which increases real interest rates should encourage saving, thereby boosting investment and growth. While such liberalizations have indeed typically succeeded in raising real interest rates, their impact on private saving has been mixed. This paper uses macroeconomic data for a sample of countries with diverse income levels to estimate a model in which the intertemporal elasticity of substitution varies with the level of wealth. The estimated parameters are then used to calculate, in the context of a simple endogenous growth model, the responsiveness of saving to real interest rate changes for countries at differing stages of development.

Determinants Of Commercial Bank Interest Margins And Profitability

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Author : Asl? Demirgüç-Kunt
language : en
Publisher: World Bank Publications
Release Date : 1998

Determinants Of Commercial Bank Interest Margins And Profitability written by Asl? Demirgüç-Kunt and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Bancos comerciales categories.

March 1998 Differences in interest margins reflect differences in bank characteristics, macroeconomic conditions, existing financial structure and taxation, regulation, and other institutional factors. Using bank data for 80 countries for 1988-95, Demirgüç-Kunt and Huizinga show that differences in interest margins and bank profitability reflect various determinants: * Bank characteristics. * Macroeconomic conditions. * Explicit and implicit bank taxes. * Regulation of deposit insurance. * General financial structure. * Several underlying legal and institutional indicators. Controlling for differences in bank activity, leverage, and the macroeconomic environment, they find (among other things) that: * Banks in countries with a more competitive banking sector-where banking assets constitute a larger share of GDP-have smaller margins and are less profitable. The bank concentration ratio also affects bank profitability; larger banks tend to have higher margins. * Well-capitalized banks have higher net interest margins and are more profitable. This is consistent with the fact that banks with higher capital ratios have a lower cost of funding because of lower prospective bankruptcy costs. * Differences in a bank's activity mix affect spread and profitability. Banks with relatively high noninterest-earning assets are less profitable. Also, banks that rely largely on deposits for their funding are less profitable, as deposits require more branching and other expenses. Similarly, variations in overhead and other operating costs are reflected in variations in bank interest margins, as banks pass their operating costs (including the corporate tax burden) on to their depositors and lenders. * In developing countries foreign banks have greater margins and profits than domestic banks. In industrial countries, the opposite is true. * Macroeconomic factors also explain variation in interest margins. Inflation is associated with higher realized interest margins and greater profitability. Inflation brings higher costs-more transactions and generally more extensive branch networks-and also more income from bank float. Bank income increases more with inflation than bank costs do. * There is evidence that the corporate tax burden is fully passed on to bank customers in poor and rich countries alike. * Legal and institutional differences matter. Indicators of better contract enforcement, efficiency in the legal system, and lack of corruption are associated with lower realized interest margins and lower profitability. This paper-a product of the Development Research Group-is part of a larger effort in the group to study bank efficiency.

Private Savings And Transition

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Author : Sabine Stephan
language : en
Publisher:
Release Date : 2005

Private Savings And Transition written by Sabine Stephan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.

After the collapse in the early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. But is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country groups. The main results are: saving rates are rather persistent; income growth increases saving, whereas public saving crowds out private saving. There is evidence that in both country groups domestic saving and foreign capital operate at least partly as substitutes, which is an indicator for international financial integration. The long-run effects of income growth and public saving are larger in the EU-15 than in the EU-accession countries.

Public Policies And Private Savings And Investment In Sub Saharan Africa

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Author : Mr.Dhaneshwar Ghura
language : en
Publisher: International Monetary Fund
Release Date : 1995-02-01

Public Policies And Private Savings And Investment In Sub Saharan Africa written by Mr.Dhaneshwar Ghura and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-02-01 with Business & Economics categories.

This paper assesses empirically the role of public policies in stimulating private savings and investment in sub-Saharan African countries, based on data for the period 1986-92. The main findings of the analysis are as follows: (i) policies effective in stimulating private savings and investment include those that keep the rate of inflation low, reduce macroeconomic uncertainty, promote financial deepening, and lower the external debt burden; (ii) measures that promote structural reforms and reduce the budget deficit (without lowering government investment) help to raise private investment; and (iii) declines in government savings are only partially offset by increases in private savings.

Social Security And Private Savings

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Author : Martin S. Feldstein
language : en
Publisher:
Release Date : 1974

Social Security And Private Savings written by Martin S. Feldstein and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Saving and investment categories.