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Estimating saving and investment functions in Pakistan

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  • Mohammad Afzal

    (Department of Economics, Gomal University, D.I. Khan, Pakistan)

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    Abstract

    This paper estimates simultaneously the saving and investment functions for Pakistan for the period 1960-2003. Compared with other Asian countries, Pakistan has not experienced adequate growth in national savings. Growth of real GDP, real per capita income, foreign capital inflow and investment are found to be the major determinants of savings. The findings support the “displacement hypothesis”. On the other hand, macroeconomic stability, inflation, availability of domestic credit, exchange rate, and foreign and national saving have been found to be the most crucial factors influencing the investment environment. Macroeconomic stability and the pursuit of sound macroeconomic policies can augment both saving and investment.

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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/168/588
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    Bibliographic Info

    Article provided by University of the Philippines School of Economics and Philippine Economic Society in its journal Philippine Review of Economics.

    Volume (Year): 41 (2004)
    Issue (Month): 1 (June)
    Pages: 67-78

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    Handle: RePEc:phs:prejrn:v:41:y:2004:i:1:p:67-78

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    Related research

    Keywords: saving; investment; macroeconomic policy;

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    Cited by:
    1. AFZAL, Muhammad, 2013. "National Savings And Foreign Capital In Pakistan," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(2), pages 197-206.

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