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Saving, Investment and Growth: A Causality Test

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  • Zangeneh, Hamid

Abstract

All agree to the answer, i.e., they agree that accumulation of capital was, is, and will remain the most significant problem of the third world (the south) countries. The third world countries cannot accumulate capital because of low-income levels, which in turn, leads to low saving and investments. But low saving and hence low investments are responsible for low income. A catch 22 problem for the third world countries that is badly in need of solutions. This paper shows that we could conclude a one-way Granger causalities running from savings to investment, and from disposable income to investment. This is true with one or more lagged values as independent variable. This means, we need undertake policies that foster savings to spur investment, and as a result, capital accumulation.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26806.

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Date of creation: 2006
Date of revision: 2006
Publication status: Published in Iranian Economic review 16.11(2006): pp. 165-175
Handle: RePEc:pra:mprapa:26806

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Related research

Keywords: Granger causalities; Iranian saving and investment and economic growth;

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References

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  1. Deepak Lal, 1993. "Poverty and Development," UCLA Economics Working Papers, UCLA Department of Economics 707, UCLA Department of Economics.
  2. Martin Feldstein, 1994. "Tax Policy and International Capital Flows," NBER Working Papers 4851, National Bureau of Economic Research, Inc.
  3. Lucian Cernat & Radu Vranceanu, 2002. "Globalisation and Development: New Evidence from Central and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan, vol. 44(4), pages 119-136, December.
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Cited by:
  1. Zangeneh, Hamid, 2010. "Iran: Past, Present and the Future," MPRA Paper 26283, University Library of Munich, Germany.

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