Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/322894 
Year of Publication: 
2013
Series/Report no.: 
Discussion Papers Series No. 13-02
Publisher: 
Utrecht University, Utrecht School of Economics, Tjalling C. Koopmans Research Institute, Utrecht
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 theWorld 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 separately.
Subjects: 
culture
institutions
current account
Eurozone imbalances
Document Type: 
Working Paper

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