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CORPORATE THRIFT AND ECONOMIC GROWTH: A COMPARATIVE STUDY OF DEVELOPING AND DEVELOPED COUNTRIES
Author(s) -
Chen Naiwei
Publication year - 2012
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.1731
Subject(s) - developing country , economics , relation (database) , development economics , developed country , business , economic growth , sociology , population , demography , database , computer science
Abstract This study aims to investigate the relation between corporate saving and economic growth during the period from 1995 to 2006 in 7 developing countries and 16 developed countries. The results show that corporate savings generally add to the economic growth of developing countries regardless of legal origins. On the contrary, corporate savings generally do not contribute to the economic growth of developed countries. Developed countries with common law and Scandinavian civil law legal origins particularly see the negative relation between corporate saving and economic growth, while countries with other legal origins observe no such relation. Copyright © 2010 John Wiley & Sons, Ltd.