This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they … increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as … savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple …

. The role of technical change as a driver of GDP growth, household income and average wage is highlighted. The model leads … expected technical change, the higher the firms's investment rate and the lower the households' savings rate, remaining …

-observed-financial crisis. There are several theories explaining this problem in the framework of consumption theory. Inequality in income … aggregate domestic savings as a ratio of GDP and GINI coefficient as an indicator of income inequality are tested under “Second …Savings problem has become a crucial issue since it is one of the reasons of today's frequently …