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- Title
Cross-Country Private Saving Heterogeneity and Culture.
- Authors
Castro Campos, M.; Kool, C.; Muysken, J.
- Abstract
Motivated by the dominant role of cross-country heterogeneity in private saving in the creation of Eurozone imbalances over the past decade, we empirically investigate the determinants of private saving for a sample of 30 OECD countries over the period 1990-2010. In addition to standard macroeconomic variables, we include three country-specific cultural indicators, derived from the World and European Value Surveys. We find these three variables- thrift, trust and religiosity-to significantly contribute to the explanation of cross country saving heterogeneity both for the OECD group at large and for the Eurozone countries separately.
- Subjects
OECD countries; SAVINGS; ECONOMICS &; culture; EURO; ECONOMIC research; ECONOMIC history
- Publication
De Economist (0013-063X), 2013, Vol 161, Issue 2, p101
- ISSN
0013-063X
- Publication type
Article
- DOI
10.1007/s10645-013-9204-6