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| Author: | Triantis, S. G. |
| Title: | Economic growth and saving theory |
| Journal: | Kyklos
1999 : VOL. 52:1, p. 45-62 |
| Index terms: | ECONOMIC GROWTH SAVINGS HOUSEHOLD ECONOMICS |
| Language: | eng |
| Abstract: | Review of the more widely discussed saving theories suggests that they are unable to account for the observed positive impact of a country's rate of economic growth on its saving ratio. In particular, the compositional explanation offered by the Life Cycle theory would appear to be based on debatable premises. A more promising explanation is found in the examination of the saving behavior of individual households and the respective motives: their saving ratio tends to vary positively with the percentage change in their income. The importance of the distribution of such changes among the economic agents is obvious. A number of implications for economic growth are discussed, including the roles of direct taxation, the export and agricultural sectors and, especially, domestic and foreign capital. |
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