Saving and Economic Growth in India
AbstractThis paper studies the relationship between GDP and saving in India. During the last few years, the saving rate has fallen marginally raising concern that it might adversely affect economic growth. We take a long run view. We explore whether there is a long run relationship between GDP and saving. In doing so, we distinguish between gross domestic saving and gross domestic private saving. We posit that gross domestic private saving rather than gross domestic saving is more important in determining GDP. We find that both gross domestic saving and gross domestic private saving are cointegrated with GDP. However, causality tests between the growth of gross domestic saving/the growth of private domestic saving and the growth of GDP indicate that the causality does not run in any direction.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 49 (1996)
Issue (Month): 4 ()
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Other versions of this item:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211.
- Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
- Granger, C. W. J., 1981. "Some properties of time series data and their use in econometric model specification," Journal of Econometrics, Elsevier, vol. 16(1), pages 121-130, May.
- Hall, S G, 1989. "Maximum Likelihood Estimation of Cointegration Vectors: An Example of the Johansen Procedure," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 51(2), pages 213-18, March.
- Jangili, Ramesh, 2011. "Causal relationship between saving, investment and economic growth for India – what does the relation imply?," MPRA Paper 40002, University Library of Munich, Germany.
- Sinha, Dipendra & Sinha, Tapen, 2007.
"Relationships among Household Saving, Public Saving, Corporate Saving and Economic Growth in India,"
2597, University Library of Munich, Germany.
- Dipendra Sinha & Tapen Sinha, 2008. "Relationships among household saving, public saving, corporate saving and economic growth in India," Journal of International Development, John Wiley & Sons, Ltd., vol. 20(2), pages 181-186.
- Verma, R. & Wilson, E.J., 2005. "Savings, Investment, Foreign Inflows and Economic Growth of the Indian Economy 1950-2001," Economics Working Papers wp05-23, School of Economics, University of Wollongong, NSW, Australia.
- López L., Rosby Leandra & Saldarriaga M., Juan Pablo, 2010. "Ahorro y crecimiento económico en Colombia: 1950-2007," PERFIL DE COYUNTURA ECONÓMICA, UNIVERSIDAD DE ANTIOQUIA - CIE.
- Sinha, Dipendra & Sinha, Tapen, 2007. "Toda and Yamamoto Causality Tests Between Per Capita Saving and Per Capita GDP for India," MPRA Paper 2564, University Library of Munich, Germany.
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