| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12275 |
| 来源ID | Working Paper 12275 |
| When Does Domestic Saving Matter for Economic Growth? | |
| Philippe Aghion; Diego Comin; Peter Howitt | |
| 发表日期 | 2006-06-05 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | Can a country grow faster by saving more? We address this question both theoretically and empirically. In our model, growth results from innovations that allow local sectors to catch up with the frontier technology. In relatively poor countries, catching up with the frontier requires the involvement of a foreign investor, who is familiar with the frontier technology, together with effort on the part of a local bank, who can directly monitor local projects to which the technology must be adapted. In such a country, local saving matters for innovation, and therefore growth, because it allows the domestic bank to cofinance projects and thus to attract foreign investment. But in countries close to the frontier, local firms are familiar with the frontier technology, and therefore do not need to attract foreign investment to undertake an innovation project, so local saving does not matter for growth. In our empirical exploration we show that lagged savings is significantly associated with productivity growth for poor but not for rich countries. This effect operates entirely through TFP rather than through capital accumulation. Further, we show that savings is significantly associated with higher levels of FDI inflows and equipment imports and that the effect that these have on growth is significantly larger for poor countries than rich. |
| 主题 | Macroeconomics ; Consumption and Investment ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w12275 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569929 |
| 推荐引用方式 GB/T 7714 | Philippe Aghion,Diego Comin,Peter Howitt. When Does Domestic Saving Matter for Economic Growth?. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12275.pdf（566KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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