What are the causes of the growing trend of excess savings of the corporate sector in developed countries?: an empirical analysis of three hypotheses

• Main Authors: Brufman, Leandro, Martinez, Lisana Belén, Perez Artica, Rodrigo
• Format: Article in Journal/Newspaper
• Language: English
• Published: World Bank
• Subjects: Liquidity; Savings; Investment; Financial contraints; https://purl.org/becyt/ford/5.2; https://purl.org/becyt/ford/5; Argentina; Perez; artica
• Online Access: http://hdl.handle.net/11336/26376

This paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross saving an...