Why are Latin America's savings rates so low? An international comparative analysis
Why are Latin America's savings rates so low? An international comparative analysis
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DOI：
10.1016/s0304-3878(96)00424-5
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发表时间：
1996-10-01
影响因子：
5
通讯作者：
Edwards, S
中科院分区：
文献类型：
--
作者：
Edwards, S
本文对储蓄率的决定因素进行了理论和实证评估，特别是对拉丁美洲储蓄率的评估。这项研究基于国际比较，使用了来自36个国家1970-1992年的数据。私人储蓄和公共储蓄是有区别的。后者是由经济和政治变量内生决定的。人均收入增长是私人和公共储蓄的最重要决定因素；公共储蓄在政治不稳定程度较高的国家较低；公共储蓄排挤私人储蓄，但不成比例。拉丁美洲的低储蓄率是由于其决定因素的重要性，而不是结构性差异。
This paper presents a theoretical and empirical assessment of the determinants of savings rates, with special emphasis on Latin American savings rates. The study is based on international comparisons, using data from 36 countries for 1970-1992. A distinction is made between private and public savings. The later are endogenously determined by economic and political variables. Per capita income growth is the most important determinant of private and public savings; public savings are lower in countries with higher political instability; public savings crowd out private savings, but less than proportionately. Low Latin American savings are due to the magnitudes of their determinants, rather than structural differences.