Aggregate Savings, Financial Intermediation, and Interest Rate
利用亚洲和拉丁美洲的跨国面板数据，检验实际利率和金融中介对储蓄的影响，发现两者效果不明确，仅亚洲有部分支持。
There has been considerable controversy about the role of financial factors as determinants of savings in developing countries. This paper explores the importance of two such factors, namely, real interest rate and financial intermediation. Using pooled time- series, cross-section data, a model of savings is estimated for Asia, Latin America, and for the total sample. Particular attention is paid to the error structure in estimation. The results suggest that pooling is not justified. Further, there is no unequivocal support for the effect of either of the two factors; some qualified support is found for Asia but none for Latin America. Copyright 1987 by MIT Press.