Private savings and transition: dynamic panel data evidence from accession countries/ created by Mechthild Schrooten and Sabine Stephan

By:

Schrooten, Mechthild [author]

Contributor(s):

Stephan, Sabine [co author]

Material type: Text

TextSeries: Economics of transition ; Volume 13, number 2Oxford: Blackwell Publishing, 2005Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

09670750

Subject(s):

Savings -- Panel study -- Economic transition -- EU countries

LOC classification:

HC244 ECO

Online resources:

Click here to access online

Abstract: After the collapse in the early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. But is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country groups. The main results are: saving rates are rather persistent; income growth increases saving, whereas public saving crowds out private saving. There is evidence that in both country groups domestic saving and foreign capital operate at least partly as substitutes, which is an indicator for international financial integration. The long-run effects of income growth and public saving are larger in the EU-15 than in the EU-accession countries.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library Journal Article	HC244 ECO (Browse shelf(Opens below))	Vol. 13, no.1 (pages 139-162)	SP46	Not for loan	For in house use only

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After the collapse in the early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. But is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country groups. The main results are: saving rates are rather persistent; income growth increases saving, whereas public saving crowds out private saving. There is evidence that in both country groups domestic saving and foreign capital operate at least partly as substitutes, which is an indicator for international financial integration. The long-run effects of income growth and public saving are larger in the EU-15 than in the EU-accession countries.

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