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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Abstract

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.

Item Type:Article
Keyword:Economic growth; Foreign capital; Savings
Subject:Economic development - Asia
Subject:Saving and investment - Asia
Subject:International finance
Faculty or Institute:Faculty of Economics and Management
Publisher:Springer
DOI Number:10.1007/s10644-006-9006-9
Altmetrics:http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1007/s10644-006-9006-9
ID Code:18360
Deposited By: Azwana Abdul Rahman
Deposited On:30 Oct 2011 00:03
Last Modified:03 Jul 2014 02:39

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