Cross-country private saving heterogeneity and culture

M. de Castro Campos, C.J.M. Kool, J. Muysken

Research output: Working paperProfessional

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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.
Original languageEnglish
Place of PublicationMaastricht
PublisherMaastricht University, Graduate School of Business and Economics
DOIs
Publication statusPublished - 1 Jan 2013

Publication series

SeriesGSBE Research Memoranda
Number013

Cite this

de Castro Campos, M., Kool, C. J. M., & Muysken, J. (2013). Cross-country private saving heterogeneity and culture. Maastricht University, Graduate School of Business and Economics. GSBE Research Memoranda, No. 013 https://doi.org/10.26481/umagsb.2013013