Saving dynamics in the Asian countries
This paper investigates empirically the factors that have influenced the savings behavior in the fast growing Asian economies-Singapore, South Korea, Malaysia, Thailand and the Philippines. Both the short and long-run movements of savings are modeled during the 1960-1997. The empirical results of th...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2003
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| Online Access: | http://psasir.upm.edu.my/id/eprint/112711/1/112711.pdf http://psasir.upm.edu.my/id/eprint/112711/ https://linkinghub.elsevier.com/retrieve/pii/S1049007802001872 |
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| Summary: | This paper investigates empirically the factors that have influenced the savings behavior in the fast growing Asian economies-Singapore, South Korea, Malaysia, Thailand and the Philippines. Both the short and long-run movements of savings are modeled during the 1960-1997. The empirical results of the analysis based on time series data may be summarized as follows: (i) foreign savings deters domestic saving both in the short and long run; (ii) savings does not Granger cause economic growth, except for Singapore; (iii) the effect of interest rate on saving in Asian countries is inconclusive and it reflects the extent of financial liberalization adopted in these countries; and (iv) in the long run the causality runs from foreign to domestic savings. |
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