Cross-Country Private Saving Heterogeneity and Culture

Malka de Castro Campos, Clemens Kool and Joan Muysken ()

No 13-02, Working Papers from Utrecht School of Economics

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 theWorld 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.

Keywords: culture; institutions; current account; Eurozone imbalances (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Cross-Country Private Saving Heterogeneity and Culture (2013)
Working Paper: Cross-country private saving heterogeneity and culture (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:use:tkiwps:1302

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