El ahorro y 1a tasa de interes real en los paises en desarrollo

Reinhart, Carmen and Ostry, Jonathan (1995): El ahorro y 1a tasa de interes real en los paises en desarrollo. Published in: Finanzas y Desarollo , Vol. 32, No. 4 : pp. 16-18.

Abstract

Raising real interest rates has been cited as a way to increase private saving, and thus provide the resources for growth. But this may not be a viable approach in the poorest developing countries in which most people live at subsistence level. In these situations, consumption is not very responsive to fluctuations in real interest rates and financial liberalization my not be the catalyst to higher higher saving rates.

• Item Type: MPRA Paper
• English Title: Saving and the Real Interest Rate in Developing Countries
• Language: Spanish
• Keywords: consumo ahorro tasas de interes liberalizacion financiera
• Subjects: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations ; Cycles; E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy > E21 - Consumption ; Saving ; Wealth

References

Banco Mundial Adjustment in Africa: Reforms, Results, and the Road Ahead, World Bank Policy Research Report (Nueva York: Oxford University Press, 1994).

Banco Mundial, Informe sobre el Desarrollo Mundial 1994, e Indicadores del desarrollo mundial (Washington, DC: Banco Mundial, 1994).

Ostry, J y C M Reinhart, "Private Saving and Terms of Trade Shocks", IMF Staff Papers, Vol 39, septiembre de 1992, pags. 495 a 517.

Ogaki, M. J Ostry y C M Reinhart, "Saving Behavior in Low and Middle•Income Developing Countries: A Comparison", de proxima aparicion en IMF Staff Papers.

Kaminsky, G L y A. Pereira, "The Debt Crisis:Lessons of the 1990s for the 1990s", de proxima aparicion en Journal of Development Economics.