Savings-Investments Relationship in an Open Economy
AbstractThis paper reviews the conceptual-theoretical framework related to the analysis of the savings-investments relationship in an open economy and reveals the main trends of the respective relationship in the consolidated market economies and emerging countries during the second part of the 20-th century and first decade of the 21-st century. In this context, the author proposes some improvements in the savings-investments relationship analysis methodology, emphasizing the role of the foreign trade balance stock on the values of discrepancy between the savings and investments and of the Feldstein-Horioka econometric model estimated parameters. The respective methodological improvements are applied in the case of Romania for the period 1990-2007. At the end of the paper some guidelines for the savings-investments relationship modeling are presented in order to avoid recession and assure the premises for a sustainable economic growth.
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Bibliographic InfoArticle provided by Institute of National Economy in its journal Romanian Journal of Economics.
Volume (Year): 29 (2009(XIX))
Issue (Month): 2(38) (December)
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More information through EDIRC
state budget deficit; external trade balance stock; Grubel-Lloyd Index generalized form; Feldstein-Horioka model; error-correction model.;
Find related papers by JEL classification:
- B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
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