On the Impact of Openness and Regulatory Quality on Saving- Investment Dynamics in Emerging Economies
This paper attempts to quantify the significance of the domestic saving effort for investment rates in a group of 25 emerging economies over the 1985-2006 period using a varying-coefficients, error-correction model. The model is also used to empirically examine how that significance is influenced by the degree of openness, and by the regulatory framework. Our empirical results provide support for the view that investment rates are not unduly constrained by domestic saving in emerging economies. This is generally more so for relatively open economies, as well as ones with better regulatory quality.
Volume (Year): 11 (2011)
Issue (Month): 2 ()
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