Grigoli, Francesco.
World Saving. - 1 online resource (56 pages) - IMF Working Papers ; v.Working Paper No. 14/204 . - IMF Working Papers .
Cover -- Contents -- Abstract -- I. Introduction -- II. Private Saving Determinants -- III. Data and Stylized Facts -- A. Sources and Construction -- B. Stylized Facts -- IV. Empirical Strategy -- V. Results -- A. Baseline Specification -- B. Alternative Specifications -- C. Time Periods and Country Groups -- D. National Saving -- E. Household and Corporate Saving -- VI. Conclusions -- Appendix I. Data -- A. Concept Construction and Variable Generation -- B. Data Replacement, Splicing, and Augmentation -- C. Dataset Cleaning -- Appendix II. Country Groups -- Appendix III. Contributions -- Tables -- 1. Determinants of Private Saving in Previous Studies -- 2. Descriptive Statistics -- 3. Correlation Matrix of Core Private Saving Determinants -- 4. Determinants of Private Saving, Different Estimators -- 5. Determinants of Private Saving, Additional Explanatory Variables -- 6. Determinants of Private Saving, Interactions -- 7. Determinants of National Saving, Alternative Estimators -- 8. Determinants of Household and Corporate Saving, Baseline Specification -- 9. Determinants of Household and Corporate Saving, Additional Explanatory Variables -- A1. List of Countries -- Figures -- 1. World Saving Rates, 1981-2012 -- 2. World Private Saving Rates, 1981-2012 -- 3. Pairwise Panel Correlations -- A1. Average Contributions of the Fitted Values -- References.
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different estimation techniques. Third, the empirical search is expanded by including potential saving determinants identified by theory but not previously considered in the empirical literature. Fourth, the paper explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups. Finally, it also searches for commonalities and differences in behavior across national, private, household, and corporate saving rates. The results confirm in part existing research, shed light on some ambiguous or contradictory findings, and highlight the role of neglected determinants. Compared to the literature, we find a larger number of significant determinants of saving rates, using different estimators, for different periods and country groups, and for different saving aggregates.
9781498303132
Consumption (Economics).
Saving and investment.
Savings accounts.
Electronic books.
HC79.S3 -- .G75 2014eb
339.43
World Saving. - 1 online resource (56 pages) - IMF Working Papers ; v.Working Paper No. 14/204 . - IMF Working Papers .
Cover -- Contents -- Abstract -- I. Introduction -- II. Private Saving Determinants -- III. Data and Stylized Facts -- A. Sources and Construction -- B. Stylized Facts -- IV. Empirical Strategy -- V. Results -- A. Baseline Specification -- B. Alternative Specifications -- C. Time Periods and Country Groups -- D. National Saving -- E. Household and Corporate Saving -- VI. Conclusions -- Appendix I. Data -- A. Concept Construction and Variable Generation -- B. Data Replacement, Splicing, and Augmentation -- C. Dataset Cleaning -- Appendix II. Country Groups -- Appendix III. Contributions -- Tables -- 1. Determinants of Private Saving in Previous Studies -- 2. Descriptive Statistics -- 3. Correlation Matrix of Core Private Saving Determinants -- 4. Determinants of Private Saving, Different Estimators -- 5. Determinants of Private Saving, Additional Explanatory Variables -- 6. Determinants of Private Saving, Interactions -- 7. Determinants of National Saving, Alternative Estimators -- 8. Determinants of Household and Corporate Saving, Baseline Specification -- 9. Determinants of Household and Corporate Saving, Additional Explanatory Variables -- A1. List of Countries -- Figures -- 1. World Saving Rates, 1981-2012 -- 2. World Private Saving Rates, 1981-2012 -- 3. Pairwise Panel Correlations -- A1. Average Contributions of the Fitted Values -- References.
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different estimation techniques. Third, the empirical search is expanded by including potential saving determinants identified by theory but not previously considered in the empirical literature. Fourth, the paper explores differences in saving behavior nesting the 2008-10 crisis period and four different country groups. Finally, it also searches for commonalities and differences in behavior across national, private, household, and corporate saving rates. The results confirm in part existing research, shed light on some ambiguous or contradictory findings, and highlight the role of neglected determinants. Compared to the literature, we find a larger number of significant determinants of saving rates, using different estimators, for different periods and country groups, and for different saving aggregates.
9781498303132
Consumption (Economics).
Saving and investment.
Savings accounts.
Electronic books.
HC79.S3 -- .G75 2014eb
339.43