DOES CAPITAL MARKET REFORM BOOST SAVINGS? EVIDENCE FROM THE UK PENSION REFORMS

@inproceedings{Granville2002DOESCM,
  title={DOES CAPITAL MARKET REFORM BOOST SAVINGS? EVIDENCE FROM THE UK PENSION REFORMS},
  author={Brigitte Granville and Sushanta K. Mallick},
  year={2002}
}
Doubts about the positive effect of capital market development on private saving extend beyond the ambiguous theoretical link between interest rates and savings, to include demonstrable reduction of private savings as a result of financial developments such as pension reforms and increased household access to credit markets. The empirical validity of the effect of pension reforms on domestic savings in the UK has been investigated using an Auto-regressive Distributed Lag (ARDL) model capable of… CONTINUE READING

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