Institutions, private savings and growth: a political economy analysis

• Autor(a) principal: Silva, Marcos Fernandes Gonçalves da
• Data de Publicação: 1999
• Tipo de documento: Relatório
• Idioma: eng
• Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
• Texto Completo: http://hdl.handle.net/10438/3184
• topic: Savings; Property rights; Political stability; New institutional economics; Nova economia institucional; Administração de empresas; Poupança; Estabilidade política; Direito de propriedade

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.