TY  - BOOK
AU  - Schrooten,Mechthild
AU  - Stephan,Sabine
TI  - Private savings and transition: dynamic panel data evidence from accession countries
SN  - 09670750
AV  - HC244 ECO 
PY  - 2005///
CY  - Oxford
PB  - Blackwell Publishing
KW  - Savings
KW  - Panel study
KW  - Economic transition
KW  - EU countries
N2  - 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
UR  - https://doi.org/10.1111/j.1468-0351.2005.00217.x
ER  -