addresses shortcomings in conventional metrics of economic development by incorporating broader measures of saving and … investment, including human capital (education), and natural resource depletion. Its value as an indicator is determined by its …

, progressive taxation as well as investment and output subsidies to the entrepreneurial sector …

their growth performance. In our model, the effects of taxation on growth are highly non-linear. Low or moderate tax rates …

who save but do not participate in the stock market will increase their consumption, thereby reducing saving and capital …

past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth …

inexplicable in more barren models. We suggest an explanation of why saving and investment may be correlated even with no … restrictions on trade in assets. We explain why a high saving country may nonetheless borrow from abroad to finance investment. We …, investment in capital goods and a non-traded good. Such an environment is rich enough to explain several phenomena that are …

developing countries, and higher after 1973 than before. Our interpretation of the saving-investment evidence is that the …The finding of Feldstein and Horioka (1980) that countriesf investment rates are highly correlated with their national … saving rates has by now been confirmed by many subsequent studies, even though their inference that international capital …