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dc.date.accessioned 2015-08-25T14:13:11Z
dc.date.available 2015-08-25T14:13:11Z
dc.date.issued 2015-08
dc.identifier.uri http://sedici.unlp.edu.ar/handle/10915/47410
dc.description.abstract This paper revisits the role of business saving in the economy by critically scrutinizing the existing macroeoconomic and corporate finance literatures. We assemble and exploit a broad international, unbalanced panel of 47 countries over 1995-2013 on saving and investment by institutional sector to shed new light on the relevance of business saving for private saving and investment around the world. We show that businesses contribute on average more than 50% of national saving around the world. Using this unique dataset, we find evidence of partial piercing of the corporate veil: a $1 increase in business saving gives rise to a decrease of approximately $0.40 in household saving–thereby raising private saving by as much as $0.60. We also find that a $1 increase in business saving increases private investment by as much as $0.20 in countries where limited financing is a binding constraint on firms’ invesment. The evidence suggests that business saving and external financing are complementary sources of financing for investment. en
dc.language en es
dc.subject bussiness saving en
dc.subject ahorro es
dc.subject JEL: E21, E22, G32 es
dc.subject corporate veil en
dc.subject domestic saving en
dc.subject corporate finance en
dc.title Is bussiness saving really none of our bussiness? en
dc.type Articulo es
sedici.identifier.uri http://www.depeco.econo.unlp.edu.ar/doctrab/doc107.pdf es
sedici.identifier.issn 1853-3930 es
sedici.creator.person Bebczuk, Ricardo Néstor es
sedici.creator.person Cavallo, Eduardo es
sedici.subject.materias Ciencias Económicas es
sedici.description.fulltext true es
mods.originInfo.place Departamento de Economía es
sedici.subtype Documento de trabajo es
sedici.rights.license Creative Commons Attribution 4.0 International (CC BY 4.0)
sedici.rights.uri http://creativecommons.org/licenses/by/4.0/
sedici.description.peerReview peer-review es
sedici.relation.journalTitle Documentos de Trabajo es
sedici.relation.journalVolumeAndIssue no. 107 es

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Creative Commons Attribution 4.0 International (CC BY 4.0) Except where otherwise noted, this item's license is described as Creative Commons Attribution 4.0 International (CC BY 4.0)