The Saving-Investment Relationships: A Markov Switching Causality Analysis Of Cote D´Ivoire And Ghana
This paper investigates the empirical saving-investment relationships for Côte d’Ivoire and Ghana over the period 1960–1998, using a Markov Switching VAR model. We find regime-dependent causality from saving to investment in Côte d’Ivoire but not in Ghana. In terms of Feldstein and Horioka (1980) capital mobility hypothesis these findings suggest a more capital mobility in Ghana than in Côte d’Ivoire implying that foreign capital flows towards Côte d’Ivoire and not to Ghana during the studied period.
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Volume (Year): 7 (2007)
Issue (Month): 2 ()
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