Purpose - The purpose of this paper is to test the hypothesis that savers may be substituting equity capital gains from stockholdings for traditional measures of personal saving. The analysis also aims to investigate dividend yield (DY) as a signal to investors about corporate saving rates...

We begin this paper by summarizing various studies which used surveys and economic models to describe the characteristics and benefits of the old tradition of ROSCAs which is prevalent in many developing countries around the world. These studies also document the types of draws and the factors...

Many households have insufficient savings to handle moderate and routine consumption shocks. Many of these financially-fragile households also have the highest lottery expenditures as a proportion of income. This combination suggests that Prize-Linked Savings (PLS) accounts, combining security...

Many households have insufficient savings to handle moderate and routine consumption shocks. Many of these financially fragile households also have the highest lottery expenditures as a proportion of income. This combination suggests that prize-linked savings (PLS) accounts, combining security...

We examine the returns from owning cows and buffaloes in rural India. We estimate that when valuing labor at market wages, households earn large, negative average returns from holding cows and buffaloes, at negative 64% and negative 39% respectively. This puzzle is mostly explained if we value...

La respuesta que emerge de un análisis comparativo entre América Latina y Asia del Este a la pregunta de si la globalización ha cambiado los motores del crecimiento es, a pesar de las extraordinarias posibilidades de desarrollo abiertas por este proceso, un no cualificado: la inversión,...

Mutual funds industry has been sought by French politicians as mediation between the popular savings and company?s investments through the financial markets. Questioning the link between finance and industry requires analyzing the effectiveness of this mediation. This article intends firstly to...

This paper explores the qualitative and quantitative implications of taxation for growth and savings in three Latin American countries: Brazil, Chile and Mexico, studying a small open economy in the context of an endogenous growth model where the domestic interest rate depends on the level of...