Institutions, private savings and growth: a political economy analysis
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1999
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The aim of this research is to show empirically the existence of a positive relationship between political-institutional stability and savings. Firstly, the research will seek the understanding of the microeconomic analysis related with savings decisions departing from a New Institutional Economics approach. It will be considered the up to date literature about the subject. Secondly, It will be made an empirical cross-section test, which will consider developed and underdeveloped economies. The saving determination model will use as an independent variable a property rights satisfaction index (PROP) as one of the independent variables. The basic normative conclusion reinforces the perception that well-defined and enforced property rights are essential to secure the institutional stability necessary to bust savings in the economy.