Saving, dependency and development.

  title={Saving, dependency and development.},
  author={Allen C. Kelley and R Michelle Schmidt},
  journal={Journal of population economics},
  volume={9 4},
This study examines the impact of dependency on savings between 65 less developed countries (LDCs) and 23 developed countries over time and cross-sectionally since 1960. The study tests a modified Leff model and the Mason life-cycle framework. Empirical estimates address potential simultaneity between savings and output growth. The price indices of Summers and Heston are used because each country's national accounts are converted from nominal into purchasing-power variables. This eliminates the… CONTINUE READING

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