This paper provides a descriptive analysis of the long- and short-run correlations among saving, investment, and growth rates for 123 countries over the period 1961-94. Three results are robust across data sets and estimation methods: i) lagges saving rates are positively related to investment rates; ii) investment rates Granger cause growth rates with a negative sign; iii) growth rates Granger-cause investment with a positive sign. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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This study aims to provide an estimate of the prevalence of gambling among Italian adolescents and a description of their patterns of gambling activities (PGAs) using a latent class analysis on 13 different types of games. A nationwide sample of 10,959 Italian high school students was recruited in 2013. We assessed problem gambling using the South Oaks Gambling Screen: Revisited for Adolescent (SOGS-RA) scale. Approximately half (50.6%) of students reported gambling at least once in the previous year; 5.0% of them were problem gamblers and 9.1% were at-risk gamblers according to their SOGS-RA scores. Eight PGAs were identified, among which heavy players (1.7% of students) could be classified as problem gamblers and broad skill players (2.0%) and lotteries & sports players (2.4%) as "at-risk" players. These high-risk classes were consistently associated with risky behaviours in terms of substance use, school performance, money spent on gambling and family environment; the other five classes identified low-risk players associated with safe behaviours. To the best of our knowledge, this is the first study to identify PGAs among Italian adolescents. Problem gamblers are not a homogeneous group in terms of patterns of gambling activities and are associated with different risk factors, among which environmental factors, such as parents' gambling attitude and behaviour, deserve special attention. The acknowledgment of such patterns and risk factors could be useful in developing sensible public policies addressing prevention strategies and regulatory instruments.

This paper analyzes the stochastic convergence in per capita income levels among the current G-7 over the period 1900-89. We show that, in the presence of possible structural breaks, the strong condition of stationary pair-wise differences between per capita GDP holds in many more cases than generally supposed. However, it occurs more frequently in the first part of the time sample than in the second one. JEL Classification: O41