International Evidenceon the Determinants of Private Saving

IMF Working Papers, May 1, 1995

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International Evidenceon the Determinants of Private Saving

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Bibliographic details

• Authors: Paul R Masson, Tamim Bayoumi, Hossein Samiei
• Published: May 1, 1995
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451847055.001

Authors and Publication

• By Paul R Masson, Tamim Bayoumi, Hossein Samiei
• Publication date: May 1, 1995
• Series: Working Paper No. 1995/051
• Issue: 051
• Volume: 1995
• Pages: 33
• DOI: https://doi.org/10.5089/9781451847055.001
• ISBN: 9781451847055
• ISSN: 1018-5941
• Stock No: WPIEA0511995

Summary of scope and approach

• Examines a broad set of possible determinants of private saving behavior using data for a large sample of industrial and developing countries.
• Employs both time-series and cross-section estimates.

Main empirical findings

• Public saving:
  • There is a partial offset on private saving of changes in public saving.
• Foreign saving (developing countries):
  • For developing countries, changes in foreign saving produce a partial offset on private saving.
• Demographics and growth:
  • Demographics and growth are important determinants of private saving rates.
• Interest rates and terms of trade:
  • Interest rates and terms of trade have positive effects on private saving, but these effects are less robust.
• Per capita GDP:
  • Increases in per capita GDP seem to increase saving at low income levels (relative to the United States) but decrease it at higher ones.

Subject classification and keywords

• Subject: Financial services, Fiscal policy, Fiscal stance, Income, International trade, National accounts, Private savings, Real interest rates, Terms of trade
• Keywords: developing country, estimate, Fiscal stance, GDP, government saving, growth influences saving, Income, per capita income, Private savings, Real interest rates, saving, saving equation, saving rate, saving ratio, Terms of trade, world saving, WP

Research context and usage note

• This Working Paper describes research in progress and is published to elicit comments and to further debate.
• Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Source: International Evidenceon the Determinants of Private Saving, IMF Working Papers 1995, 051 (May 1, 1995).