Estabilidade Institucional, Credibilidade e Poupança Privada: uma Análise de Economia Política / Institutions, Private Savings and Growth: a Political Economy Analysis

AUTOR(ES)
DATA DE PUBLICAÇÃO

24/11/2005

RESUMO

The objective of this paper is to show that there is a positive relationship between institutional stability, credibility and the rate of private saving. The most recent literature about disparities between saving rates uses an argument of political economy to explain how and why the institutional instability could affect the public decisions that determine the public saving. However, it doesn t suggest in the same way that such instability can affect the private saving negatively. This lack of the theory will be analysed here using the theoretical referential of the New Institutional Economics (NEI), where it is pointed out, in the processes of private decision of accumulation of assets, the role of the government enforcing (i) the stability of the market rules and (ii) the property rights. Firstly, I am going to discuss some theoretical aspects linking growth with politics and institutions. Secondly, it will be presented a multiple self model applied to savings decisions. The conclusion of the paper will suggest the necessity of empirical studies (econometric and comparative institutional cases) on the subject. The fundamental practical interest of the research, that will be the subject for further investigation, is to try to justify partly, the low levels of saving in Latin American using an institutional argument and to propose government s actions and reforms.

ASSUNTO(S)

taxa de poupança poupança privada direitos de propriedade credibilidade instituições crescimento econômico nova economia institucional economia política escolha pública modelos de egos múltiplos

ACESSO AO ARTIGO

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