02036cas a2200253 a 4500 AALejournalIMF018878 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484385395 1018-5941 BD-DhAAL BD-DhAAL Dao, Mai Chi. The Rise in Corporate Saving and Cash Holding in Advanced Economies : Aggregate and Firm Level Trends / Mai Chi Dao, Chiara Maggi. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (64 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 Using cross-country national accounts and firm-level data, we document a broad-based trend in rising gross saving and net lending of non-financial corporates across major industrialized countries over the last two decades, though most pronounced in countries with persistent current account surpluses. We find that this trend holds consistently across major industries, and is concentrated among large firms, driven by rising profitability, lower financing costs, and reduced tax rates. At the same time, higher gross corporate saving have not supported a commensurate increase in fixed capital investment, but instead led to a build-up of liquid financial assets (cash). The determinants of corporate cash holding and saving are also broad-based across countries, with the growth in assets of large firms, R and D intensity, and lower effective tax rates accounting for most of the increase over the last 15 years. Mode of access: Internet Maggi, Chiara. IMF Working Papers; Working Paper ; No. 2018/262 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/262/001.2018.issue-262-en.xml IMF e-Library