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Published in:
1995 | OriginalPaper | Chapter
The Rise and Fall of the Future: Why Did National Saving Decline?
Authors : Sharone L. Maital, Shlomo Maital
Published in: Economics in a Changing World
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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Between 1973 and 1987, the rate of saving of households, businesses and governments declined in virtually all 24 OECD countries. For the United States, France, Japan, and the United Kingdom, the drop in national saving amounted to about 5 per cent of GDP. Since 1987, savings rates have recovered somewhat, but as of 1994 remain substantially below their levels in the early 1970s (see Table 9.1 and Figures 9.1 and 9.2).