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

By: Contributor(s): Material type: TextTextSeries: Economics of transition ; Volume 13, number 2Oxford: Blackwell Publishing, 2005Content type:
  • text
Media type:
  • unmediated
Carrier type:
  • volume
ISSN:
  • 09670750
Subject(s): LOC classification:
  • HC244 ECO
Online resources: 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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Item type Current library Call number Vol info Copy number Status Notes Date due Barcode
Journal Article 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

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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