lower investment and exports compared with other small island states, but greater political stability, catch-up effects from …

determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each … period, result in either of two stable equilibria for the savings rate. At the “good” equilibrium, savings and growth are … individual’s belief about the savings behavior of other agents in the economy. The model implies that fiscal policy or public …

direct investment is also substantial. We explain these features in terms of a conventional neoclassical growth model-with no …

Italy and provinces in Canada. Analyzing saving-investment correlations, and developing as well as fitting to the data a …

as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We develop a model that …

countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher …

rather than a greater 'effort' to save it. Finally, we find evidence that, while savings during the boom help to increase … post-boom income, the composition of such savings matters. Specifically, in past episodes, savings allocated to foreign … asset accumulation appear to have contributed more to post-boom income than those devoted to domestic investment. …

investment for Kuwait under uncertainty. The results show that in the face of high oil income volatility and the expected decline … is room to increase investment spending, which should contribute to the growth of the tradable sector, as the projected … investment rate is lower than the optimal investment rate of 20 percent of government income. …