The Economics of Saving and Growth: Theory, Evidence, and Implications for Policy

Descripción

Editors: Klaus Schmidt-Hebbel and Luis Servén
Cambridge University Press, 1999

Saving rates display great variation across countries and over time. They are also closely related to growth performance. This 1999 volume provides an account of key variables, institutions and policies that determine saving. Drawing from a systematic exploration of the existing literature, the collection summarizes knowledge about cross-country saving trends, the relation between saving and growth, the impact of financial policies and institutions on saving, the effect of foreign resource inflows on saving, and the links between income distribution and aggregate saving. In addition, new research results are presented on the two latter areas. The work has a strong empirical motivation: to help address real-world issues on consumption and saving in both industrial and developing countries, in order to assist in the design of rational and effective macroeconomic policies.

Blurbs

“The Economics of Saving and Growth provides a lucid and comprehensive treatment of the nature of saving and its role in the growth process. Within its covers, the contributors study the theorical relationships between various macroeconomic factors and saving and growth as well as empirical evidence in a concise but self-contained style. Besides being an excellent and up-to-date starting point for any research in this area, the book is an invaluable resource for policy-makers, particularly in developing countries”
Sebastian Edwards, UCLA

“This little book comprises the state of the art in an important field. Understanding saving behavior is crucial to our understanding of growth and development; this is never more true than today, when the Asian model of high saving and investment is being called into question. These six chapters by some of the best researchers in the field shed much light on the most important empirical and theoretical issues concerning saving and growth, and should be required reading for all economists”
Paul Masson, International Monetary Fund

“This book provides a comprehensive analysis of the relation between saving and growth and of the institutions and policies that affect such a relation. By successfully bridging the gap between theoretical models and empirical issues, it will be useful for policy makers and researchers alike”
Tullio Jappelli, University of Salerno