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| Author: | Higgins, M. |
| Title: | Demography, national savings, and international capital flows. |
| Journal: | International Economic Review
1998 : MAY, VOL. 39:2, p. 343-369 |
| Index terms: | DEMOGRAPHY SAVINGS INTERNATIONAL CAPITAL MOVEMENTS GROSS NATIONAL PRODUCT NATIONAL ACCOUNTING |
| Language: | eng |
| Abstract: | The article addresses the relationship between age distribution, national savings and the current account balance. The results point to substantial demographic effects, with increases in both the young and old-age dependency ratios associated with lower savings rates. They also point to differential affects on savings and investment, and thus to a role for demography in determining the current account balance. The estimated demographic effect on the current account balance exceeds six per cent of GDP over the last three decades for a number of countries and, given expected demographic trends, is likely to be substantially larger over the coming decades. |
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