Savings Mobilization, Financial Development And Liberalization: The Case Of Malaysia
This paper attempts to identify the key factors behind Malaysia’s remarkable savings performance. Drawing on the life cycle theory, the saving function is estimated by incorporating other relevant structural features and institutional settings of the Malaysian economy into the specification. Particular emphasis has been placed on the roles of financial factors in mobilizing funds in the private sector. The results suggest that financial deepening and increased banking density tend to encourage private savings. Development of insurance markets and liberalization of the financial system, however, tend to exert a dampening effect on private savings.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 57 (2011)
Issue (Month): 3 (09)
|Contact details of provider:|| Web page: http://www.blackwellpublishing.com/journal.asp?ref=0034-6586|
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0034-6586|
References listed on IDEAS
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.:
- Roger Kelly & George Mavrotas, 2008. "Savings and financial sector development: panel cointegration evidence from Africa," The European Journal of Finance, Taylor & Francis Journals, vol. 14(7), pages 563-581.
- Jappelli, Tullio & Pagano, Marco, 1994.
"Saving, Growth, and Liquidity Constraints,"
The Quarterly Journal of Economics,
MIT Press, vol. 109(1), pages 83-109, February.
- Barro, Robert J, 1974.
"Are Government Bonds Net Wealth?,"
Journal of Political Economy,
University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
- Bekaert, Geert & Harvey, Campbell R. & Lundblad, Christian, 2006.
"Growth volatility and financial liberalization,"
Journal of International Money and Finance,
Elsevier, vol. 25(3), pages 370-403, April.
- Bayoumi, Tamim, 1993.
"Financial Deregulation and Household Saving,"
Royal Economic Society, vol. 103(421), pages 1432-43, November.
- Eric Zivot & Donald W.K. Andrews, 1990.
"Further Evidence on the Great Crash, the Oil Price Shock, and the Unit Root Hypothesis,"
Cowles Foundation Discussion Papers
944, Cowles Foundation for Research in Economics, Yale University.
- Zivot, Eric & Andrews, Donald W K, 1992. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(3), pages 251-70, July.
- Zivot, Eric & Andrews, Donald W K, 2002. "Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 25-44, January.
- Sarantis, Nicholas & Stewart, Chris, 2001. "Saving Behaviour in OECD Countries: Evidence from Panel Cointegration Tests," Manchester School, University of Manchester, vol. 69(0), pages 22-41, Supplemen.
- Orazio P. Attanasio & Agar Brugiavini, 2003. "Social Security And Households' Saving," The Quarterly Journal of Economics, MIT Press, vol. 118(3), pages 1075-1119, August.
- James Ang & Kunal Sen, 2011.
"Private saving in India and Malaysia compared: the roles of financial liberalization and expected pension benefits,"
Springer, vol. 41(2), pages 247-267, October.
- James Ang & Kunal Sen, 2008. "Private Saving In India And Malaysia Compared: The Role Of Financial Liberalization And Expected Pension Benefits," Monash Economics Working Papers 13/08, Monash University, Department of Economics.
- Ang, James & Sen, Kumal, 2009. "Private Saving in India and Malaysia Compared: The Role of Financial Liberalization and Expected Pension Benefits," MPRA Paper 14413, University Library of Munich, Germany.
- Loayza, N. & Schmidt, K. & Serven, L., 1999.
"What Drives Private Saving Across the World?,"
47, Cambridge - Risk, Information & Quantity Signals.
- Kivilcim Metin Ozcan & Asli Gunay & Seda Ertac, 2003.
"Determinants of private savings behaviour in Turkey,"
Taylor & Francis Journals, vol. 35(12), pages 1405-1416.
- Kivilcim Metin-Ozcan, 2002. "Determinants of Private Saving Behaviour in Turkey," Departmental Working Papers 0206, Bilkent University, Department of Economics.
- Philippe Aghion & Philippe Bacchetta & Abhijit Banerjee, 2004.
"Financial Development and the Instability of Open Economies,"
NBER Working Papers
10246, National Bureau of Economic Research, Inc.
- Aghion, Philippe & Bacchetta, Philippe & Banerjee, Abhijit, 2004. "Financial development and the instability of open economies," Journal of Monetary Economics, Elsevier, vol. 51(6), pages 1077-1106, September.
- Bacchetta, Philippe & Aghion, Philippe & Banerjee, Abhijit, 2004. "Financial Development and the Instability of Open Economies," Scholarly Articles 4554209, Harvard University Department of Economics.
- Oriana Bandiera & Gerard Caprio & Patrick Honohan & Fabio Schiantarelli, 2000.
"Does Financial Reform Raise or Reduce Saving?,"
The Review of Economics and Statistics,
MIT Press, vol. 82(2), pages 239-263, May.
- McCaig, Brian & Stengos, Thanasis, 2005. "Financial intermediation and growth: Some robustness results," Economics Letters, Elsevier, vol. 88(3), pages 306-312, September.
- Junsoo Lee & Mark C. Strazicich, 2003. "Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 1082-1089, November.
- James B. Ang & Warwick J. McKibbin, 2005.
"Financial Liberalization, Financial Sector Development And Growth: Evidence From Malaysia,"
CAMA Working Papers
2005-05, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Ang, James B. & McKibbin, Warwick J., 2007. "Financial liberalization, financial sector development and growth: Evidence from Malaysia," Journal of Development Economics, Elsevier, vol. 84(1), pages 215-233, September.
- Feldstein, Martin S, 1974. "Social Security, Induced Retirement, and Aggregate Capital Accumulation," Journal of Political Economy, University of Chicago Press, vol. 82(5), pages 905-26, Sept./Oct.
- James H. Stock & Mark W. Watson, 1991.
"A simple estimator of cointegrating vectors in higher order integrated systems,"
Working Paper Series, Macroeconomic Issues
91-3, Federal Reserve Bank of Chicago.
- Stock, James H & Watson, Mark W, 1993. "A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems," Econometrica, Econometric Society, vol. 61(4), pages 783-820, July.
- Ross Levine, 1997.
"Financial Development and Economic Growth: Views and Agenda,"
Journal of Economic Literature,
American Economic Association, vol. 35(2), pages 688-726, June.
- Levine, Ross, 1996. "Financial development and economic growth : views and agenda," Policy Research Working Paper Series 1678, The World Bank.
- M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
- Stiglitz, Joseph E & Uy, Marilou, 1996. "Financial Markets, Public Policy, and the East Asian Miracle," World Bank Research Observer, World Bank Group, vol. 11(2), pages 249-76, August.
- Paul R. Masson & Tamim Bayoumi & Hossein Samiei, 1995.
"International Evidenceon the Determinants of Private Saving,"
IMF Working Papers
95/51, International Monetary Fund.
- Masson, Paul R & Bayoumi, Tamim & Samiei, Hossein, 1998. "International Evidence on the Determinants of Private Saving," World Bank Economic Review, World Bank Group, vol. 12(3), pages 483-501, September.
- Edwards, Sebastian, 1996. "Why are Latin America's savings rates so low? An international comparative analysis," Journal of Development Economics, Elsevier, vol. 51(1), pages 5-44, October.
- Patrick Honohan, 2004. "Financial development, growth, and poverty: how close are the links?," Policy Research Working Paper Series 3203, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:bla:revinw:v:57:y:2011:i:3:p:449-470. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.