@techreport{Stephan2003Private,
abstract = {After the collapse in early transition years, saving rates in Eastern European EUaccession
countries have recovered strongly. Is private saving in these countries now
driven by the same forces as in the EU? A GMM estimator is applied to analyze the
determinants of private saving in both country groups. Main results are: saving rates
are persistent; income growth increases saving, whereas public saving crowds out
private saving. Domestic saving and foreign capital operate as substitutes. Long-run
effects of income growth and public saving are larger in the EU than in the candidate
countries, indicating that saving behavior in the EU is determined to a larger extent
by long-run perspectives than in the candidate countries.},
address = {Berlin},
author = {Sabine Stephan and Mechthild Schrooten},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C33; E21; 330; Dynamic panel data model; private savings; Eastern European EU-accession countries; GMM estimator; Sparen; Einkommenshypothese; Sch\"{a}tzung; Vergleich; Osteuropa; EU-Staaten},
language = {eng},
number = {372},
publisher = {Deutsches Institut f\"{u}r Wirtschaftsforschung (DIW)},
title = {Private Savings in Eastern European EU-Accession Countries : Evidence From a Dynamic Panel Data Model},
type = {DIW-Diskussionspapiere},
url = {http://hdl.handle.net/10419/18129},
year = {2003}
}
