A comparison of saving rates: micro evidence from sixteen Latin American and Caribbean countries

Produced by: 
Universidad ORT
Available from: 
March 2015
Paper author(s): 
Néstor Gandelman
Topic: 
Financial Economics
Year: 
2022

Using micro data on expenditure and income for sixteen Latin American and Caribbean (LAC) countries we present stylized facts of saving behavior by age, education, income and place of residence. We compute counterfactuals saving rates by imposing the saving behavior, the population distribution or the income distribution of two benchmark economies (USA and Korea). Our results suggest that the difference in national saving rates between LAC and the benchmark economies can mainly be attributed to differences in saving behavior of the population and to a lower degree to differences in the distribution of the population by educational levels. Other demographic or income distribution differences are not quantitatively important as explanations of saving rates.

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