Saving for Development : : How Latin America and the Caribbean Can Save More and Better.

• Author: Inter-American Development Bank, Inter-American Development.
• TeilnehmendeR: Cavallo, Eduardo.; Serebrisky, Tomás.
• Place / Publishing House: New York : : Palgrave Macmillan,, 2016.; ©2016.
• Year of Publication: 2016
• Edition: 1st ed.
• Language: English
• Physical Description: 1 online resource (352 pages)

Table of Contents

Intro -- Contents -- List of Tables -- List of Figures -- List of Boxes -- Preface -- Acknowledgments -- Contributors -- 1 Saving for a Sunny Day -- Savings: The Sum of its Parts -- Why Care about National Saving? -- Sharing the Blame for Low Saving -- How to Promote Saving for Development -- Tackle the pension problem -- Focus on infrastructure and capital spending -- Target tax policy better -- Promote household saving and create a savings culture -- Improve productivity growth -- Fix the financial system -- The Many Faces of Saving -- A Policy Agenda for the Future -- Notes -- 2 The State of Saving in Latin America and the Caribbean -- National Saving Rates: Comparatively Low -- The Private Sector: Taking the Lead -- Foreign Savings: A Secondary Actor -- Businesses: The Biggest Savers-Worldwide -- Farewell to the Demographic Dividend -- Too Old to Save? -- Higher Income, Greater Saving -- Lower-Income Savers: Little to Show for their Efforts -- The Bottom Line -- Notes -- 3 Financial Systems to Make Savings Count -- In Financial Systems, Small Is Not Beautiful -- Formal vs. Informal Saving: Quality Counts -- Accounting for the Unbanked -- The Link between Financial Access and Savings: The Case of Mexico -- The Missing Link -- Notes -- 4 More and Better Saving for Productive Investment -- Investment and National Saving: Low, Lower, Lowest -- Financing Investment: No Place Like Home -- For Policy, Which Comes First: Saving or Investment? -- Investment in Infrastructure: First among Equals? -- A Catalyst for Productivity and Growth -- Public or Private Investment: Both Is Best -- The Other Half -- Understanding the Infrastructure Financing Market -- Debt Stands Out -- Infrastructure as an Asset Class -- Institutional Investors: An Untapped Source of Financing -- Building a Better Investment Strategy -- Notes -- 5 Saving for Stability.

Foreign Financing: A Different Animal -- Risky Business: Absorbing Foreign Saving -- Not All Foreign Saving Is Created Equal -- Different Risks for Different Financial Flows -- Financial Integration Is No Cure -- Safety First -- Notes -- 6 Running Out of Time: The Demographics of Saving -- More Elderly with More Needs -- Facing the Challenge: More and Better Savings -- Fulfilling Promises -- Saving for the Future -- More-and Better-Savings to Enhance Growth -- How Is the Region Preparing for the Future? -- Pension Systems: Not an Option Today -- Plan B: Household Savings in Other Assets -- The Last Resort: Taking Care of Grandma -- Act Today, for a Better Tomorrow -- Notes -- 7 Saving for the Future: Pension Systems -- Newer Systems for Older Populations -- PAYG/Defined-Benefit Systems: Promises, Promises -- Sustainability -- Adequacy and Redistribution -- Institutional Arrangements -- Recommendations -- Defined Contribution Systems: A Work in Progress -- Transition Costs -- Investments, Returns, and Costs -- Retirement Products and Insurance Arrangements -- Financial Literacy, Legitimacy, and Confidence -- Appropriate Regulation and Supervision -- Recommendations -- When All Else Fails: Noncontributory Pensions -- Recommendations -- Pensions Count -- Notes -- 8 A Better Way for Government to Save -- Current vs. Capital Expenditures: Fix the Mix -- Efficiency: A Path to Saving -- Energy -- Social Programs -- Tax Expenditures -- Education and Health -- Education -- Health -- It All Adds Up -- Saving, from the Top Down -- Notes -- 9 Saving Begins at Home -- Constraints to Saving -- Too Hard to Save Formally? -- In the Hearts and Minds of Savers -- Family and Friends First -- A Behavioral Economics Tale -- The Penchant for Instant Gratification -- Inertia and Limited Attention: Not All Bad -- Policy Recommendations: What Really Counts.

Product Innovation -- Keep It Simple -- Tackle Behavioral Biases -- Incorporate Technology -- Keep Testing -- Bridging the Gap between Informal and Formal Mechanisms -- Getting an Early Start -- Redefining Financial Inclusion -- Notes -- 10 Firm Productivity as an Engine of Saving -- From Japan to the World: The Empirical Link between TFP and Savings -- Incentives to Save -- Quantifying the Link from Productivity to Saving -- The Fine Print -- Zooming in on Firms' Saving Decisions -- Firm Saving: A Way Out for Productive Firms -- A Productive Approach to Policy -- Notes -- 11 Breaking the Vicious Circle: Financial Policies for High-Quality Saving -- Toward a Well-Oiled Financial Machine -- Broadening the Base -- Reducing Service Costs -- Keeping it Simple -- Fostering a Culture of Saving -- Banking-The Old Fashioned Way -- More than Brick-and-Mortar Banking -- Dialing up Technology -- Financial Saving beyond Banking -- Creating a Virtuous Circle -- Notes -- References -- Index.