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Does financial reform raise or reduce savings?

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  • Does financial reform raise or reduce savings?
  • Bandiera, Oriana; Caprio, Gerard; Honohan, Patrick; Schiantarelli, Fabio
  • The World Bank


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Title Does financial reform raise or reduce savings?
Similar Titles
Material Type Reports
Author(English)

Bandiera, Oriana; Caprio, Gerard; Honohan, Patrick; Schiantarelli, Fabio

Publisher

The World Bank

Date 1998-09
Pages 57
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Economy < Financial Policy
Holding The World Bank

Abstract

The effect of financial liberalization on private saving is theoretically ambiguous, not only because the link between interest rate levels and saving is itself ambiguous, but also because financial liberalization is a multi-dimensional and phased process, sometimes involving reversals. Some dimensions, such as increased household access to consumer credit or housing finance, might also work to reduce private savings rather than increasing them. Furthermore, the long-term effect of liberalization on savings may differ substantially from the impact effect.