Template-type: ReDif-Paper 1.0
Author-Name: Castro Campos M. de
Author-Name: Kool C.J.M. 
Author-Name: Muysken J. 
Author-workplace-name: GSBE
Title: Cross-country private saving heterogeneity and culture
Abstract: Motivated by the dominant role of cross-country heterogeneity in private saving in the creation of Eurozone imbalances over the past decade, we empirically investigate the determinants of private saving for a sample of 30 OECD countries over the period 1990-2010. In addition to standard macroeconomic variables, we include three country-specific cultural indicators, derived from the World and European Value Surveys. We find these three variables - thrift, trust and religiosity - to significantly contribute to the explanation of cross-country saving heterogeneity both for the OECD group at large and for the Eurozone countries seperately.
Keywords: Single Equation Models; Single Variables: Truncated and Censored Models; Switching Regression Models; Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity; Technological Change; Research and Development; Intellectual Property Rights: General; Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence; 
Classification-JEL: O47; O30; D24; C24; .
Series:  Research Memorandum
Creation-Date: 2013
Number: 013
File-URL: http://pub.maastrichtuniversity.nl/686a58bb-7d9f-48f5-9c2a-b04bdf1098a6
File-Format: application/pdf
File-Size: 550382
Handle: RePEc:unm:umagsb:2013013