A Portfolio Model of Korean Household Saving Behavior, 1962-1976

@inproceedings{Ortmeyer1985APM,
  title={A Portfolio Model of Korean Household Saving Behavior, 1962-1976},
  author={David L. Ortmeyer},
  year={1985}
}
In his recent paper on Korea's saving and capital accumulation experience over the 1962-76 period, Williamson challenges development economists to improve on the simplistic models of saving behavior that have come to characterize studies of surplus mobilization in less developed countries.' He warns that we can no longer be satisfied with single-equation, ordinary-least-squares-estimated models that ignore the simultaneous nature of the saving-investment decision. He further suggests that… CONTINUE READING