Chen-Chen Yong Kim-Lan Siah Pei-Lee Teh Keng-Boon Ool
Abstract
The validity of the assertion that high saving rates are associated with persistent high economic growth rates has become questionable after the onset of 1997/1998 Asian financial and economic crises. This paper aims to examine the factors influencing the saving rate of Malaysia as well as to reestimate the savings function in order to answer the question whether high saving rates are associated with Malaysia’s high rate of economic growth using a recently developed Bound testing approach proposed by Pesaran et al. (2001). The sample period runs from 1974-2004. The Autoregressive Distributed Lag (ARDL) model indicates that in the long-run, per capita GDP and per capita GDP growth rate have a positive impact on saving rates, while foreign saving and dependency ratio have a negative influence on saving. However, the interest rate is found to be insignificant on Malaysia’s saving rate.
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Volume (Year): VI (2008) Issue (Month): 4 (December) Pages: 50-61 Download reference. The following formats are available: HTML
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Handle: RePEc:icf:icfjfe:v:06:y:2008:i:4:p:50-61
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