Suchergebnisse

AbstractPrivate saving and economic growth are intimately linked, and low saving rates in Latin America and the Caribbean (LAC) have often been held responsible for disappointing growth in the region. Thus, identifying factors that spur saving is critical. This paper surveys previous empirical studies onLAC, highlighting contradictions, omissions and in some cases inconclusiveness of findings. Relying on a large dataset and a nested econometric framework, it analyzes private saving patterns and explores the role of its determinants inLAC, acrossLACsub‐regions and compared with other regions. While the results highlight great heterogeneity in private saving rates withinLACand compared with the rest of the world, saving determinants are broadly the same notwithstanding some differences in sensitivity and contributions' sizes, and include its lag, income, demographics and public saving.

This paper presents new sector saving series for Chile. The annual series for 1960-1997 are disaggregated by six sectors: external sector, general government, public enterprises, central banks, private firms, and households. Household saving is disaggregated into mandatory pension saving and voluntary saving. The series reported here were constructed to ensure consistency in the face of limitations of the data available from different sources. Various features distinguish the saving series reported here from those available before. Capital depreciation is disaggregated by sector to avoid the bias implicit in assigning aggregate depreciation to private firms only. Better estimations of mandatory pension saving of households are provided. Alternative sector saving series adjusted for capital gains and losses due to domestic inflation and exchangerate depreciation are reported. Finally sector income series are presented by combining the saving series with consumption series from national accounts. ; Este trabajo presenta nuevas series de ahorro por agentes económicos para la economía chilena. Las series anuales cubren el período 1960-1997 y se desagregan para seis sectores: sector externo, gobierno general, empresas públicas, banco central, empresas privadas y hogares. En el caso de los hogares se diferencia, además, entre ahorro voluntario y obligatorio (previsional). Las series presentadas aquí constituyen una recopilación de diversas fuentes para reflejar medidas de ahorro lo más consistentes posibles, considerando las restricciones de información existentes. Varios aspectos distinguen a estas series de ahorro de las hasta ahora disponibles.Se desagrega la depreciación del capital a fin de eliminar el sesgo implícito de suponer que toda la depreciación es generada por las empresas privadas. Se presenta una reestimación del ahorro de hogares previsional forzoso. Se construyen series alternativas de ahorro sectorial ajustadas por pérdidas y ganancias de capital derivadas de la inflación doméstica y las ...