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How to Rationalize the Export-Saving Paradigm (the Czech experience)


  • Bruno S. Sergi
  • Karel Vít


The paper analyzes the relationship between saving and export in the Czech economy. Because the Czech economy has been increasingly trading with Western Europe, testing the relationship between these two variables is significant. OLS and 2SLS are applied to quarterly data between gross national savings, gross domestic product and exports over the period 1994 - 2001. The 2SLS procedure has also the advantage of identifying the underlying principles of the formal paradigm by means of instruments (productivity, real investments and unemployment). This study does lend support to the paradigm advanced by Maizels in 1968, which relates a country"s increase in domestic savings to exports.

Suggested Citation

  • Bruno S. Sergi & Karel Vít, 2004. "How to Rationalize the Export-Saving Paradigm (the Czech experience)," Prague Economic Papers, University of Economics, Prague, vol. 2004(2), pages 115-120.
  • Handle: RePEc:prg:jnlpep:v:2004:y:2004:i:2:id:234:p:115-120

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    References listed on IDEAS

    1. Bruno S. Sergi, 2003. "Testing the Saving Functions of Keynes and Maizels," Eastern European Economics, Taylor & Francis Journals, vol. 41(3), pages 60-69, May.
    2. Jan Winiecki, 2000. "Solving Foreign Trade Puzzles in Post-Communist Transition," Post-Communist Economies, Taylor & Francis Journals, vol. 12(3), pages 261-278.
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    Cited by:

    1. Tsermenidis, Konstantinos, 2014. "Προσδιοριστικοί Παράγοντες Της Εθνικής Αποταμίευσης Κατά Την Περίοδο 1990-2010 Και Μέτρα Ενίσχυσης Της Οικονομικής Ανάπτυξης
      [The Determinants of National Savings in Greece during the period 1990-2
      ," MPRA Paper 56773, University Library of Munich, Germany.

    More about this item


    Czech economy; exports and savings; the Maizels? hypothesis;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • P35 - Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance
    • P44 - Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation


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