000			02161cam a22004094a 4500
001			6571
003			The World Bank
006			m d
007			cr cn|||||||||
008			020129s2013 dcu i001 0 eng
024	8		_a10.1596/1813-9450-6571
035			_a(The World Bank)6571
100	1		_aBrufman, Leandro
245	1	0	_aWhat are the Causes of the Growing Trend of Excess Savings of the Corporate Sector in Developed Countries? _h[electronic resource] : _bAn Empirical Analysis of Three Hypotheses / _cLeandro Brufman
260			_aWashington, D.C., _bThe World Bank, _c2013
300			_a1 online resource (32 p.)
520	3		_aThis paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross saving and capital formation) and a gradual decline of gross capital formation. This trend is accompanied by a steady deleveraging process and a decrease in the share of operating assets in total assets. This process is more acute among the more credit constrained, the more volatile, and the less dynamic firms.
650		4	_aAccess to Finance
650		4	_aDebt Markets
650		4	_aEconomic development strategies
650		4	_aEconomic Theory & Research
650		4	_aEmerging Markets
650		4	_aEmployment
650		4	_aEnvironmental Economics & Policies
650		4	_aFinance and Financial Sector Development
650		4	_aGrowth
650		4	_aInformality
650		4	_aMicroenterprises
650		4	_aPoverty reduction
651		4	_aSub Saharan Africa
700	1		_aArtica, Rodrigo Perez
700	1		_aBrufman, Leandro
700	1		_aMartinez, Lisana
776	1	8	_aPrint version: _iBrufman, Leandro _tWhat are the Causes of the Growing Trend of Excess Savings of the Corporate Sector in Developed Countries? _dWashington, D.C. : The World Bank, 2013
830		0	_aPolicy research working papers.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-6571
999			_c25655 _d25655