Saving in Asia and Issues for Rebalancing Growth
Jha, Shikha; Prasad, Eswar; Terada-Hagiwara, Akiko | May 2009
Shikha Jha, Eswar Prasad, and Akiko Terada-Hagiwara note that as high-growth economies in Asia saved heavily, they helped to finance rapidly growing current account deficits of industrial economies. Channeling corporate savings into productive investment will require elimination of policy distortions and financial sector development including availability of better saving instruments and improved business and investment climates. Development of financial markets, reformed pension systems, higher social transfers, universal health care insurance, and improved access to education would moderate household saving rates and help in rebalancing growth toward consumption.
CitationJha, Shikha; Prasad, Eswar; Terada-Hagiwara, Akiko. 2009. Saving in Asia and Issues for Rebalancing Growth. © Asian Development Bank. http://hdl.handle.net/11540/4231. License: CC BY 3.0 IGO.
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