Journal of Population Economics

, Volume 9, Issue 4, pp 365–386

Saving, dependency and development

  • Allen C. Kelley
  • Robert M. Schmidt

DOI: 10.1007/BF00573070

Cite this article as:
Kelley, A.C. & Schmidt, R.M. J Popul Econ (1996) 9: 365. doi:10.1007/BF00573070


The widely-observed finding in the literature showing little or no relationship between population growth (and dependency) and saving requires modification based on panel and cross-section estimation of aggregate country data. While such a relationship is still weak in the hybrid Leff-type model, it is now found consistently over time and by stage of development in the Mason variable-growth life-cycle framework, where changes in demographic factors account for a notable part of saving.

JEL classification

J11 O15 O16 

Key words

Population growth saving development 

Copyright information

© Springer-Verlag 1996

Authors and Affiliations

  • Allen C. Kelley
    • 1
  • Robert M. Schmidt
    • 2
  1. 1.Department of Economics and Center for Demographic StudiesDuke UniversityDurhamUSA
  2. 2.E. Claiborne Robins School of BusinessUniversity of RichmondRichmondUSA

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