Investment and Saving Nexus in Asian Countries: Panel Cointegration and Causality

• Autorzy: Mohsen Mehrara , Maysam Musai
• Języki publikacji: EN

Abstrakty

EN

This paper investigates the causal relationship between gross domestic investment (INV) and saving rates for 40 Asian countries by using panel unit root tests and panel cointegration analysis for the period 1970-2010. The results indicate no long run relationship as well as no causalities between these two variables in these countries. The findings are attributed to non stationary deficits or surpluses in current accounts.(original abstract)

Słowa kluczowe

EN

Investing; Savings; Investment

PL

Inwestowanie; Oszczędności; Inwestycje

• Czasopismo: International Letters of Social and Humanistic Sciences (ILSHS)
• Rocznik: 2014
• Tom: 7
• Strony: 1--7

Twórcy

autor

Mohsen Mehrara

• University of Tehran, Iran

autor

Maysam Musai

• University of Tehran, Iran

Bibliografia

• [1] Adebole S. S., Dahalan J., International Journal of Economics and Financial Issues 2(1) (2012) 1-11.
• [2] Afzal M., Philippine Review of Economics 44(2) (2007) 34-44.
• [3] Agrawal P. (2000). Savings, Investment and Growth in South Asia. Indira Gandhi Institute of Development Research.
• [4] Apergis N., Tsoulfidis L., Research in Economics 51 (1997) 333-358.
• [5] Argimon I., Roldan J. M., European Economic Review 38 (1994) 59-67.
• [6] De Long J. B., L. Summers, Quarterly Journal of Economics CVI (1991) 445-502.
• [7] Esso L., J. Keho, International Journal of Economics and Finance 17 (2010) 174-181.
• [8] Feldstein M., C. Horioka, The Economic Journal 90 (1980) 314-329.
• [9] Asafu-Adjaye J., Energy Economics 22 (2000) 615-625.
• [10] Granger C. W. J., Econometrica 37(3) (1969) 424-438.
• [11] Granger C. W. J., Journal of Econometrics 39 (1988) 199-211.
• [12] Harrod R. F., Economic Journal 49 (1939) 14-33.
• [13] Hatanaka M., (1996). Time-Series-Based Econometrics: Unit Roots and Co-integration. Oxford University Press, Oxford.
• [14] Im K. S., Pesaran M. H., Shin Y. (1997). Testing for Unit Roots in Heterogeneous Panels, University of Cambridge, Department of Applied Economics.
• [15] Im K. S., Pesaran M. H., Shin Y., Journal of Econometrics 115 (2003) 53-74.
• [16] Levin A., Lin C. F., (1992). Unit Root Tests in Panel Data: Asymptotic and Finite Sample Properties. Department of Economics, University of California at San Diego, Working Paper 92-23.
• [17] Levin A., Lin C. F., (1993). Unit Root Test in Panel Data: New Results. Department of Economics, University of California, San Diego, Working paper 93-56.
• [18] Levin A., Lin C. F., Chu C. S. J., Journal of Econometrics 108 (2002) 1-24.
• [19] Masih A. M. M., Masih, R., Energy Economics 18 (1995)165-183.
• [20] Pedroni P. (1995). Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis. Indiana University, Working Papers in Economics, No. 95-013.
• [21] Pedroni P. (1997). Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests, with an Application to the PPP Hypothesis: New results, India University, Working Papers in Economics.
• [22] Pedroni P., Oxford Bulletin of Economics and Statistics 61(4) (1999) 5-49.
• [23] Pedroni P., Econometric Theory 20(3) (2004) 597-627.
• [24] Pesaran M. H., Shin Y., (1997). An Autogressive Distributed Lag Modelling Approach to Cointegration Analysis, Working Paper Trinity College, Cambridge.
• [25] Solow R. M., Journal of Economics 70 (1956) 65-94.
• [26] Yamori N., Economics Letters 48 (1995) 361-366.