The Economics of Saving and Growth
Theory, Evidence, and Implications for Policy

A look at major research and policy issues surrounding saving across the world, first published in 1999.

Klaus Schmidt-Hebbel (Edited by), Luis Servén (Edited by), Joseph Stiglitz (Foreword by)

9780521632959, Cambridge University Press

Hardback, published 13 May 1999

210 pages, 25 b/w illus. 7 tables
23.8 x 16.2 x 2.1 cm, 0.49 kg

Saving rates display great variation across countries and over time. They are also closely related to growth performance. This 1999 volume provides an account of key variables, institutions and policies that determine saving. Drawing from a systematic exploration of the existing literature, the collection summarizes knowledge about cross-country saving trends, the relation between saving and growth, the impact of financial policies and institutions on saving, the effect of foreign resource inflows on saving, and the links between income distribution and aggregate saving. In addition, new research results are presented on the two latter areas. The work has a strong empirical motivation: to help address real-world issues on consumption and saving in both industrial and developing countries, in order to assist in the design of rational and effective macroeconomic policies.

Foreword Joseph Stiglitz
1. Introduction
2. Saving in the world: the stylized facts Klaus Schmidt-Hebbel
3. Saving and growth Luis Serven
4. Financial policies and saving Angus Deaton
5. Foreign resource inflows, saving and growth Patrick Honohan
6. Aggregate saving and income distribution Maurice Obstfeld.

Subject Areas: Macroeconomics [KCB]