Determinants and Long-term Projections of Saving Rates in Developing Asia

Charles Horioka () and Akiko Terada-Hagiwara ()
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Akiko Terada-Hagiwara: Asian Development Bank

No 228, ADB Economics Working Paper Series from Asian Development Bank

Abstract: In this paper, the authors analyze the determinants of the domestic saving rate in developing Asia during 1966–2007 and find that the main determinants appear to be the aged dependency ratio, income levels, and level of financial development. They project future trends in domestic saving rates in developing Asia for 2011–2030 based on their estimation results, and find that the aging of the population will be the main determinant of future trends in domestic saving rates in developing Asia. However, there will not necessarily be a sharp decline in saving rates in developing Asia as a whole, at least during the next 2 decades, inasmuch as there will be substantial variations across countries in the speed and timing of population aging.

Keywords: aged dependency ratio; domestic saving rate; financial development; income levels; population aging (search for similar items in EconPapers)
JEL-codes: E21 G20 J11 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2010-10-01
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Related works:
Journal Article: The determinants and long-term projections of saving rates in Developing Asia (2012)
Working Paper: The Determinants and Long-term Projections of Saving Rates in Developing Asia (2011)
Working Paper: The Determinants and Long-term Projections of Saving Rates in Developing Asia (2011)
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