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Saving in the Development Process

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Book cover The Economics of Saving

Part of the book series: Recent Economic Thought Series ((RETH,volume 28))

Abstract

The importance of domestic saving in the process of economic development has been stressed by a long line of distinguished economists from Adam Smith on. Two recent, excellent surveys (Gersovitz, 1988; Deaton, 1989) of the theory of and empirical evidence on saving from developing countries are available. An earlier survey by King (1985), though not devoted to development per se, is also useful. This section attempts to highlight some relatively neglected if not altogether ignored aspects, though some overlap with the earlier surveys is unavoidable. In particular, discussion begins with the severe problems of measurement errors and biases in the available data on income and saving from developing countries, using Indian data for illustration. The section then explores the implications of the absence and imperfect functioning of credit and insurance markets in developing countries, drawing on some recent theoretical developments and empirical studies.

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Author information

Authors and Affiliations

  1. Yale University, USA

    T. N. Srinivasan

  2. University of Michigan, USA

    Mark Gersovitz

  3. Princeton University, USA

    Christina H. Paxson

Authors
  1. T. N. Srinivasan
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  2. Mark Gersovitz
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  3. Christina H. Paxson
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Editor information

Editors and Affiliations

  1. Department of Economics, Florida State University, 47 Bellamy Building, R-128, 32306-2045, Tallahassee, FL, USA

    James H. Gapinski

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© 1993 Springer Science+Business Media New York

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Srinivasan, T.N., Gersovitz, M., Paxson, C.H. (1993). Saving in the Development Process. In: Gapinski, J.H. (eds) The Economics of Saving. Recent Economic Thought Series, vol 28. Springer, Dordrecht. https://doi.org/10.1007/978-94-017-3294-9_7

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  • DOI: https://doi.org/10.1007/978-94-017-3294-9_7

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-90-481-5794-5

  • Online ISBN: 978-94-017-3294-9

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