01729cas a2200253 a 4500 AALejournalIMF000774 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451858471 1018-5941 BD-DhAAL BD-DhAAL Ortega, Juan. Private Saving in Colombia / Juan Ortega, Alejandro Lopez Mejia. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (34 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the main determinants of the sharp decline in Colombia's private saving rate which accompanied the steep deterioration of the country's external current account deficit in the 1990s. The paper rejects current arguments pointing to a consumption boom and corporate behavior as the main causes of the decline. It concludes that: private consumption, explained mainly by permanent income, has only increased moderately in the 1990s; household behavior-not corporate behavior-determines private saving; and tax increases do not entirely explain the fall of private saving. Thus, reliance on external saving could be reduced by increasing public saving. Mode of access: Internet Lopez Mejia, Alejandro. IMF Working Papers; Working Paper ; No. 1998/171 Full text available on IMF http://elibrary.imf.org/view/journals/001/1998/171/001.1998.issue-171-en.xml IMF e-Library