The World Bank, 2013.
Major structural transformations under way in the global economy will shape the economic fortunes of nations for decades to come. The gradual acceleration of trend growth in developing countries, which started during the 1990s, has increased their contribution not only to global investment but also to global saving. This is a significant change from a few decades ago, when many considered low national saving rates and difficulty in attracting foreign capital to be constraints to investment and growth in developing countries. Collectively, developing countries’ domestic saving stood at 34 percent of their gross domestic product (GDP) in 2010, up from 21 percent in 1970, and their investment was around 33 percent of their GDP in 2012, up from 22 percent. As a result of the upward trends in these rates and an accelerated economic expansion, developing countries’ share of global saving now stands at 46 percent, nearly double the level of the mid-1960s.
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