Savings and Growth in an Interdependent World

Warwick McKibbin

doi:10.1007/978-1-349-22925-3_10

Savings and Growth in an Interdependent World

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

A major feature of the 1980s has been the large changes in current account balances in the world economy, reflecting changes in saving and investment balances in the major industrialized economies. The events of the 1980s raise a number of important questions: What are the implications of these current account developments and associated changes in government and private saving and investment behavior for world growth and the distribution of future consumption possibilities across countries?; What effects do changes in fiscal policies in different economies have on these outcomes?; How do the short run adjustments in the face of changes in policy assumptions compare to the long run outcomes under different assumptions about wage adjustment in the short run?
The goal of this paper is to provide some insights into these questions. The analysis focusses on the links between private saving and investment and changed in fiscal policy and how these spill over between countries.

Original language	English
Title of host publication	World Saving, Prosperity and Growth
Subtitle of host publication	Central Issues in Contemporary Economic Theory and Policy
Editors	Mario Baldassarri, Luigi Paganetto, Edmund S. Phelps
Place of Publication	New York
Publisher	St. Martins Press
Chapter	10
Pages	311-343
ISBN (Electronic)	978-1-349-22925-3
ISBN (Print)	0 312 09582 1, 978-0-312-09582-6, 978-1-349-22927-7
DOIs	https://doi.org/10.1007/978-1-349-22925-3_10
Publication status	Published - 1993
Externally published	Yes
Event	2nd Villa Mondragone International Economic Seminar: World Saving, Prosperity and Growth - , Italy Duration: 11 Jul 1990 → 13 Jul 1990 https://economia.uniroma2.it/mondragone/2021/past-editions/508-1917/1990

Publication series

Name	Rivista Di Politica Economica
Publisher	Servizio Italiano Pubblicazioni Internazionali (SIPI)
Number	XII
Volume	3
ISSN (Print)	0391-6170

Seminar

Seminar	2nd Villa Mondragone International Economic Seminar
Country/Territory	Italy
Period	11/07/90 → 13/07/90
Internet address	https://economia.uniroma2.it/mondragone/2021/past-editions/508-1917/1990

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10.1007/978-1-349-22925-3_10

Cite this

@inproceedings{c31939bbda6f46e6aed1d4fda2773b30,

title = "Savings and Growth in an Interdependent World",

abstract = "A major feature of the 1980s has been the large changes in current account balances in the world economy, reflecting changes in saving and investment balances in the major industrialized economies. The events of the 1980s raise a number of important questions: What are the implications of these current account developments and associated changes in government and private saving and investment behavior for world growth and the distribution of future consumption possibilities across countries?; What effects do changes in fiscal policies in different economies have on these outcomes?; How do the short run adjustments in the face of changes in policy assumptions compare to the long run outcomes under different assumptions about wage adjustment in the short run?The goal of this paper is to provide some insights into these questions. The analysis focusses on the links between private saving and investment and changed in fiscal policy and how these spill over between countries.",

author = "Warwick McKibbin",

note = "Special Issue on World Saving, Prosperity and Growth; 2nd Villa Mondragone International Economic Seminar : World Saving, Prosperity and Growth ; Conference date: 11-07-1990 Through 13-07-1990",

year = "1993",

doi = "10.1007/978-1-349-22925-3_10",

language = "English",

isbn = "0 312 09582 1",

series = "Rivista Di Politica Economica",

publisher = "St. Martins Press",

number = "XII",

pages = "311--343",

editor = "Mario Baldassarri and Luigi Paganetto and Phelps, {Edmund S. }",

booktitle = "World Saving, Prosperity and Growth",

url = "https://economia.uniroma2.it/mondragone/2021/past-editions/508-1917/1990",

}

McKibbin, W 1993, Savings and Growth in an Interdependent World. in M Baldassarri, L Paganetto & ES Phelps (eds), World Saving, Prosperity and Growth: Central Issues in Contemporary Economic Theory and Policy. Rivista Di Politica Economica, no. XII, vol. 3, St. Martins Press, New York, pp. 311-343, 2nd Villa Mondragone International Economic Seminar, Italy, 11/07/90. https://doi.org/10.1007/978-1-349-22925-3_10

Savings and Growth in an Interdependent World. / McKibbin, Warwick.
World Saving, Prosperity and Growth: Central Issues in Contemporary Economic Theory and Policy. ed. / Mario Baldassarri; Luigi Paganetto; Edmund S. Phelps. New York: St. Martins Press, 1993. p. 311-343 (Rivista Di Politica Economica; Vol. 3, No. XII).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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PY - 1993

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N2 - A major feature of the 1980s has been the large changes in current account balances in the world economy, reflecting changes in saving and investment balances in the major industrialized economies. The events of the 1980s raise a number of important questions: What are the implications of these current account developments and associated changes in government and private saving and investment behavior for world growth and the distribution of future consumption possibilities across countries?; What effects do changes in fiscal policies in different economies have on these outcomes?; How do the short run adjustments in the face of changes in policy assumptions compare to the long run outcomes under different assumptions about wage adjustment in the short run?The goal of this paper is to provide some insights into these questions. The analysis focusses on the links between private saving and investment and changed in fiscal policy and how these spill over between countries.

AB - A major feature of the 1980s has been the large changes in current account balances in the world economy, reflecting changes in saving and investment balances in the major industrialized economies. The events of the 1980s raise a number of important questions: What are the implications of these current account developments and associated changes in government and private saving and investment behavior for world growth and the distribution of future consumption possibilities across countries?; What effects do changes in fiscal policies in different economies have on these outcomes?; How do the short run adjustments in the face of changes in policy assumptions compare to the long run outcomes under different assumptions about wage adjustment in the short run?The goal of this paper is to provide some insights into these questions. The analysis focusses on the links between private saving and investment and changed in fiscal policy and how these spill over between countries.

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ER -

Savings and Growth in an Interdependent World

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