This paper argues that the study of the demand for financial services in developing countries leaves out part of the story, if it looks at only one of the three elements of the so called finance trinity, i.e. savings products, loans, or insurances, as is largely done in the literature. In...

This paper describes a structural dynamic microsimulation model of the household that has been developed to explore behavioural responses to pensions policy counterfactuals in Ireland. The model is based upon the life-cycle theory of behaviour, which assumes that individuals make their decisions...

This paper describes a structural dynamic microsimulation model of the household that has been developed to explore behavioural responses to pensions policy counterfactuals in Ireland. The model is based upon the life-cycle theory of behaviour, which assumes that individuals make their decisions...

This paper investigates the empirical saving-investment relationships for Cote d'Ivoire and Ghana over the period 1960-1998, using a Markov Switching VAR model. We find regime-dependent causality from saving to investment in Cote d'Ivoire but not in Ghana. In terms of Feldstein and Horioka...

The ‘saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...

The ‘saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...

This paper describes a structural dynamic micro-simulation model that generates individual-specific data over a range of demographic and economic characteristics at annual intervals over the life-course. The model is specifically designed to analyze the distributional implications of policy...

Most empirical studies of savings behaviour that explicitly take account of the influence of uncertainty consider for identification data that describe the evolution of circumstances observed during an appreciable period of the life-course. Here we report results obtained for a dynamic...

The purpose of this research paper is to provide empirical evidence regarding savings and growth relationship in seventeen African countries using an annual data spanning 1960 to 2000. We investigate the causal links between savings and growth using descriptive statistics, impulse response and...