INVESTIGADORES
PEREZ ARTICA Rodrigo
congresos y reuniones científicas
Título:
What are the causes of the growing trend of excess savings in the corporate sector of developed countries
Autor/es:
PÉREZ ARTICA, RODRIGO; BRUFMAN, LEANDRO; MARTINEZ, LISANA BELÉN
Lugar:
Bahía Blanca
Reunión:
Congreso; VI Congreso Nacional de Estudiantes de Posgrado en Economía; 2013
Institución organizadora:
ICONSEJO NAC.DE INVEST.CIENTIF.Y TECNICAS / CTRO.CIENTIFICO TECNOL.CONICET - BAHIA BLANCA / INST. DE INVESTIGACIONES ECONOMICAS Y SOCIALES DEL SUR
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.
