Saving and Capital Market Imperfections: The Italian Experience

Italy's saving rate is high by international standards, even when differences in growth are taken into account. We argue that credit and insurance market imperfections provide a plausible explanation for the high Italian saving rate. We also reject the potential roles of the public sector, info...

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Published in:The Scandinavian journal of economics 1992-01, Vol.94 (2), p.197-213
Main Authors: Guiso, Luigi, Jappelli, Tullio, Terlizzese, Daniele
Format: Article
Language:English
Subjects:
Bequests
Capital market
Capital markets
Consumer credit
Credit insurance
Economic growth rate
Insurance markets
Italy
Liquidity
Mortgage loans
Private savings
Savings rates
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container_title The Scandinavian journal of economics
container_volume 94
creator Guiso, Luigi
Jappelli, Tullio
Terlizzese, Daniele
description Italy's saving rate is high by international standards, even when differences in growth are taken into account. We argue that credit and insurance market imperfections provide a plausible explanation for the high Italian saving rate. We also reject the potential roles of the public sector, informal financial arrangements, bequests and the slope of the earnings profile as alternative explanations of the evidence.
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ispartof The Scandinavian journal of economics, 1992-01, Vol.94 (2), p.197-213
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source EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); Business Source Ultimate【Trial: -2024/12/31】【Remote access available】; JSTOR Archival Journals and Primary Sources Collection
subjects Bequests
Capital market
Capital markets
Consumer credit
Credit insurance
Economic growth rate
Insurance markets
Italy
Liquidity
Mortgage loans
Private savings
Savings rates
title Saving and Capital Market Imperfections: The Italian Experience
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