What Drives Private Saving Across the World?
利用大型跨国时间序列数据，实证研究政策与非政策因素如何解释各国储蓄率的差异，采用面板工具变量法处理内生性，对学者和政策制定者理解储蓄决定因素有参考价值。
Saving rates display considerable variation across countries and over time. This paper investigates empirically the policy and nonpolicy factors behind these saving disparities using a large, cross-country, time-series data set and following an encompassing approach including a number of relevant private saving determinants. The paper extends the literature in several dimensions. It uses the largest data set on aggregate saving assembled to date and explores both national and private saving determinants. It uses panel instrumental-variable techniques to correct for endogeneity and heterogeneity. Finally, it performs a variety of robustness checks to changes in estimation procedures, data samples, and model specification. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology