Emerging Markets
RBI governor Rajan on financial inclusion and economic
development:
USA
Low household saving and the elderly in America
Economist Tyler Cowen notes:
“Often it’s argued that Americans are too strained by circumstance to save much more, but the evidence belies that view. China is much poorer, yet its citizenry often manages a household savings rate of 30 percent. And in the 1970s, a much poorer America had a savings rate that once reached 15 percent and hovered above 8 percent as recently as the early 1990s. Since then the American savings rate has fallen and has settled in the range of about 4 to 6 percent.”
“Often it’s argued that Americans are too strained by circumstance to save much more, but the evidence belies that view. China is much poorer, yet its citizenry often manages a household savings rate of 30 percent. And in the 1970s, a much poorer America had a savings rate that once reached 15 percent and hovered above 8 percent as recently as the early 1990s. Since then the American savings rate has fallen and has settled in the range of about 4 to 6 percent.”