01719cas a2200241 a 4500 AALejournalIMF008729 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844979 1018-5941 BD-DhAAL BD-DhAAL De Gregorio, Jose. Savings, Growth and Capital Markets Imperfections : The Case of Borrowing Constraints / Jose De Gregorio. Washington, D.C. : International Monetary Fund, 1993. 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 effects that borrowing constraints have on savings and growth and argues that, though they increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple model to show the effects of borrowing constraints on savings is developed. Then the model is extended to analyze the effects of borrowing constraints on human capital accumulation and growth. It is shown that borrowing constraints increase savings, but reduce human capital accumulation. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1993/031 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/031/001.1993.issue-031-en.xml IMF e-Library