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    Have Filipino Households Become Less Prudent?

    Terada-Hagiwara, Akiko | June 2012
    Abstract
    Throughout the 2000s, the average household saving rate in the Philippines declined sharply. This article explains why households' consumption growth has been higher than income growth during this period. Tracing cohorts shows that saving declined across all demographic groups. A test that provides the strength of the precautionary saving motive yields a plausible explanation that households have become financially constrained and less prudent in recent years. This article argues that these patterns are best explained by the extended coverage of the social security system particularly to informal sector employees during the 1990s in the Philippines.
    Citation
    Terada-Hagiwara, Akiko. 2012. Have Filipino Households Become Less Prudent?. © Taylor and Francis. http://hdl.handle.net/11540/4239.
    Keywords
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Economies in transition
    Economic agreements
    Development indicators
    ADB
    Economic development
    Comparative economics
    Regional economics
    Economic development projects
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    Citable URI
    http://hdl.handle.net/11540/4239
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    Author
    Terada-Hagiwara, Akiko
    Theme
    Economics
    Development
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise