Replication data for: Credit Constraints and Growth in a Global Economy

Principal Investigator(s):  View help for Principal Investigator(s) Stéphane Guibaud; Nicolas Coeurdacier; Keyu Jin

Version:  View help for Version V1

Name File Type Size Last Modified
  data 08/02/2019 09:45:PM
LICENSE.txt text/plain 14.6 KB 08/02/2019 05:45:PM

Project Citation: 

Project Description

Summary:  View help for Summary We show that in an open-economy OLG model, the interaction between growth differentials and household credit constraints—more severe in fast-growing countries—can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net capital outflows from the latter, and a sustained decline in the world interest rate. Micro-level evidence on the evolution of age-saving profiles in the US and China corroborates our mechanism. Quantitatively, our model explains about a third of the divergence in aggregate saving rates, and a significant portion of the variations in age-saving profiles across countries and over time. (JEL E21, E22, F21, F32, F41, O16, P24)

Scope of Project

JEL Classification:  View help for JEL Classification
      F21 International Investment • Long-Term Capital Movements
      F41 Open Economy Macroeconomics
      O16 Financial Markets • Saving and Capital Investment • Corporate Finance and Governance
      F32 Current Account Adjustment • Short-Term Capital Movements
      E21 Consumption • Saving • Wealth
      E22 Investment • Capital • Intangible Capital • Capacity
      P24 National Income, Product, and Expenditure • Money • Inflation


Related Publications

Download this project

Published Versions

V1 [2019-08-02]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as received from the data depositor. As of April 2026, depositors are required to submit study materials in accessible formats. ICPSR has not reviewed, checked, or processed this material. For additional information about the study, please contact the investigator(s) directly. If you have questions about the accessibility of materials distributed by ICPSR or require further assistance, please visit ICPSR's Accessibility Center.