论文标题
储蓄率和经济增长的过渡动力
Transitional Dynamics of the Saving Rate and Economic Growth
论文作者
论文摘要
我们在1960 - 2017年期间使用130个国家的小组估计了人均GDP增长与国家储蓄率的增长率之间的关系。我们发现，贫困国家（富裕国家）全国储蓄率的增长率增加（较高的信用与GDP比率）降低了国家储蓄率以及国家储蓄率的收入弹性。我们开发了一个具有信用限制的模型，以解释企业家在密集和广泛的利润率上的储蓄行为的挽救行为。我们通过利用注册新业务数量和公司储蓄率的越野时间序列数据，进一步提供了我们理论发现的支持证据。
We estimate the relationship between GDP per capita growth and the growth rate of the national savings rate using a panel of 130 countries over the period 1960-2017. We find that GDP per capita growth increases (decreases) the growth rate of the national savings rate in poor countries (rich countries), and a higher credit-to-GDP ratio decreases the national savings rate as well as the income elasticity of the national savings rate. We develop a model with a credit constraint to explain the growth-saving relationship by the saving behavior of entrepreneurs at both the intensive and extensive margins. We further present supporting evidence for our theoretical findings by utilizing cross-country time series data of the number of new businesses registered and the corporate savings rate.
