Demographic determinants of savings
Subtitle: estimating and interpreting the aggregate association in Asia
By: by T. Paul Schultz.
Series: Discussion paper ;; no. 1479; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1479
Publisher: IZA
Published: 2005
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Subjects: Saving and investment -- Asia -- Case studies.; Age distribution (Demography) -- Asia -- Case studies.; Fertility, Human -- Asia -- Case studies.
Genres: Case studies.
Description: "Life cycle savings is proposed as one explanation for much of the increase in savings and economic growth in Asia. The association between the age composition of a nation's population and its savings rate, observed within 16 Asian countries from 1952 to 1992, is reestimated here to be less than a quarter the size reported in a seminal study, which assumed lagged savings is exogenous. Specification tests as well as common sense imply, moreover, that lagged savings is likely to be endogenous, and when estimated accordingly there remains no significant dependence of savings on the age composition, measured in several ways. Research should consider lifetime savings as a substitute for children, and model the causes for the decline in fertility which changes the age compositions and could thereby account for savings and growth in Asia"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 4/25/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.