Producción CyT

Anales del VI Congreso Nacional de Estudiantes de Posgrado en Economía - What are the causes of the growing trend of excess savings in the corporate sector of developed countries

Congreso

Autoría:

Pérez Artica, Rodrigo ; Brufman, Leandro ; Martinez, Lisana Belén

Fecha:

2013

Editorial y Lugar de Edición:

Ediuns

ISSN:

978-987-1648-35-1

Resumen *

We analyze a sample of manufacturing firms from Germany, France, Italy, Japan, and UK during the period 1997-2011, and find an increasing trend of excess savings (defined as the difference between gross saving and capital formation), and a gradual decline of gross capital formation. This trend is accompanied by a steady deleveraging process and a decrease in the share of operating assets in total assets. This process is more acute among the more credit constrained, the more volatile, and the less dynamic firms. Información suministrada por el agente en SIGEVA

Palabras Clave

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