asian countries and their savings rates

Looking at the appendix to Obtsfeld and Rogoff (2000), I notice that our national savings ratio (1990-1997) is 50%. We save 1 out of every 2 dollars in income we earn. That must make us one of the countries with the lowest time preference in the world. I should check the figure now. Are we spending more?

Our investment to output is 36%. As a comparison, Korea saves 35% and invests 37%, Japan saves 33% and invests 30%.

Everytime I see a superlative figure I wonder what's wrong with the national income accounts. Are they picking up something that shouldn't be there? And what explains the 14% wedge between savings and investment? Although I notice Switzerland is another country with a positive 6% wedge so it could be due to our status as a financial centre.

Our capital-output ratio is also one of the highest in the world, 3.68. This implies running into very low marginal productivity of capital. But again, I should like to know what really goes into these figures. If anyone can offer a defense/explanation.

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