This paper complements previous studies by arguing that the low private savings ratio in Latin America can be associated with the limited confidence of households and businesses in domestic financial institutions. Previous studies have established a relationship between private savings and...

Improves our understanding of the determinants of well-being in Latin America using a broad "quality-of-life" concept that challenges standard assumptions in economics, including those about the relationship between happiness and income. Builds upon new economic approaches related to the study...