What happened to savings during the financial crisis: a dynamic panel analysis of Asian-5 countries.
Thanoon, Marwan Abdul-Malik and Baharumshah, Ahmad Zubaidi (2007) What happened to savings during the financial crisis: a dynamic panel analysis of Asian-5 countries. Economic Change and Restructuring, 38 (3-4). pp. 257-275. ISSN 1573-9414
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This article examines the determinants of saving rates in five Asian (Asian-5; Malaysia, Singapore, Thailand South Korea and the Philippines) countries over the 1970-2000 period. The focus is on the relationship between savings rates and foreign capital inflows before and in the financial crises. Major findings from the dynamic panel regressions are: (i) foreign savings depresses domestic savings ratio in the short as well as in the long run and the offset appears to be larger in the crisis period; (ii) real interest has a small negative effect on savings in the short and long run; (iii) the demographic factor explains a large portion of the long run trends but not the short-term fluctuations in savings rates; and (iv) high savings ratios in the countries studied is linked to the export sector. © Springer Science+Business Media, LLC 2006.
|Keyword:||Economic growth; Foreign capital; Savings|
|Subject:||Economic development - Asia|
|Subject:||Saving and investment - Asia|
|Faculty or Institute:||Faculty of Economics and Management|
|Deposited By:||Azwana Abdul Rahman|
|Deposited On:||30 Oct 2011 00:03|
|Last Modified:||03 Jul 2014 02:39|
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