haku: @indexterm SAVINGS / yhteensä: 351
viite: 21 / 351
| Tekijä: | Schrooten, M. Stephan, S. |
| Otsikko: | Private savings and transition. Dynamic panel data evidence from accession countries |
| Lehti: | Economics of transition
2005 : VOL 13:2, p. 287-309 |
| Asiasana: | Transition economies Finance Savings Models Eastern Europe European Union |
| Kieli: | eng |
| Tiivistelmä: | Saving rates (hereafter as: s-rts.) in Eastern European EU-accession countries have recovered strongly after a collapse during the early years of transition. But is private saving (here as: p-svg. / for 'saving' as: svg.) in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of p-svg. in both country groups. The main results are: s-rts. are rather persistent, income growth increases svg., whereas public svg. crowds out p-svg. There is evidence that in both country groups domestic svg. and foreign capital operate at least partly as substitutes. The long-run effects of income growth and public svg. are larger in the EU-15 than in the EU-accession countries. |
SCIMA