Abstract
In its recent World Economic Outlook, the IMF supports the view that on current demographic trends particularly in Japan and Germany, and assuming unchanged public policies in other countries, there is likely to be an emerging shortage of world savings. This view was first propounded (to the best of my knowledge) in the World Bank’s World Development Report 1984, with which I was associated, and set out in detail together with the supporting evidence in the background papers prepared for the report and published in Lal and Wolf [17] (2).
Parts of this paper are based on Ch. 4 of the draft synthesis volume (by LAL D. and MYINT H. of a multi-country comparative study of 21 developing countries financed by the World Bank, of The Political Economy of Poverty, Equity and Growth. The author, however, is responsible for the views expressed which must not be ascribed to the World Bank in any form.
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© 1993 Servizio Italiano Pubblicazioni Internazionali
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Lal, D. (1993). World Savings and Growth in Developing Countries. In: Baldassarri, M., Paganetto, L., Phelps, E.S. (eds) World Saving, Prosperity and Growth. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22925-3_11
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