Abstract
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.
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Kelley, A.C., Schmidt, R.M. Saving, dependency and development. J Popul Econ 9, 365–386 (1996). https://doi.org/10.1007/BF00573070
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DOI: https://doi.org/10.1007/BF00573070