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Back on Track? Savings Puzzles in EU Accession Countries. ENEPRI Working Paper No. 23, October 2003

Schrooten, Mechthild and Stephan, Sabine. (2003) Back on Track? Savings Puzzles in EU Accession Countries. ENEPRI Working Paper No. 23, October 2003. [Working Paper]

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    Abstract

    After the collapse in the early years of transition, saving rates in many EU accession countries have recovered and remained stable during recent years. This may indicate that the transformation process has come to an end with regard to savings. Is saving behaviour in EU accession countries now driven by the same forces as it is in market economies? We use a panel data set covering the years 1990 to 1999 to estimate fixed-effects models for domestic and private saving ratios. Our central findings are: saving rates are persistent; income, growth and institutional reforms cause saving to increase, whereas public saving crowds out private saving. Domestic saving and foreign capital are operating as substitutes.

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    Item Type: Working Paper
    Uncontrolled Keywords: Panel data; savings; transformation.
    Subjects for non-EU documents: EU policies and themes > Treaty reform > enlargement
    EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    Subjects for EU documents: UNSPECIFIED
    EU Series: UNSPECIFIED
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ENEPRI Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 13 Jul 2004
    Page Range: p. 22
    Last Modified: 15 Feb 2011 17:20
    URI: http://aei.pitt.edu/id/eprint/1845

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