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Saving across the world : puzzles and policies, Volume 1
 
Author:Schmidt-Hebbel, Klaus; Serven, Luis; Date Stored:2002/09/17
Document Date:1997/01/31Document Type:Publication
SubTopics:Achieving Shared Growth; Environmental Economics & Policies; Contractual Savings; Banks & Banking Reform; Economic Investment & SavingsISBN:ISBN 0-8213-3852-8
Language:EnglishMajor Sector:Finance
Report Number:WDP354Sub Sectors:(Historic)Other finance
Collection Title:World Bank discussion papers ; no. WDP 354Volume No:1

Summary: Over the last three decades, a large and increasing divergence in saving rates occurred: they doubled in East Asia, stagnated in Latin America, and collapsed in sub-Saharan Africa. These regional saving disparities have closely reflected the respective growth performances: across world regions, higher saving rates have come with higher income growth. Against such background, this paper lays out a research agenda to address three broad questions of direct policy relevance. First, why do saving rates differ so much across countries and time periods? Second, how much do higher saving rates contribute to raising growth? And third, what policy measures are the most effective to raise national saving? This paper originated from the research proposal, "Saving in the World: Puzzles and Policies," presented to the World Bank Research Committee in 1996. The paper surveys broad saving trends worldwide, reviews the current knowledge about consumption and saving, and identifies the main unresolved questions to be addressed by the research. The agenda starts from the construction of an international database on saving and related macroeconomic variables, and includes work focused on regional and country experiences. The report details the analytical and methodological framework to be used by the different research components.

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