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The Relationship Between Savings And Economic Growth In Countries With Different Level Of Economic Development

Author

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  • Piotr Misztal

    (Technical University of Radom)

Abstract

The aim of this paper is to analyze the cause and effect relationship between economic growth and savings in advanced economies and in emerging and developing countries2. In this work we used the method based on studies in macroeconomics and international finance as well as econometric methods (co-integration models and Granger’s causality test). All statistical data used in this paper came from the International Monetary Fund database (World Economic Outlook database). The results confirmed the existence of one-way casual relationship between gross domestic savings and gross domestic product in the case of developed countries as well as in developing and transition countries. At the same time it was revealed the absence of causal relationship between gross domestic product and gross domestic savings both in developed economies and developing and transition countries.

Suggested Citation

  • Piotr Misztal, 2011. "The Relationship Between Savings And Economic Growth In Countries With Different Level Of Economic Development," "e-Finanse", University of Information Technology and Management, Institute of Financial Research and Analysis, vol. 7(2), pages 17-29, August.
  • Handle: RePEc:rze:efinan:v:7:y:2011:i:2:p:17-29
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    File URL: http://www.e-finanse.com/artykuly_eng/181.pdf
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    References listed on IDEAS

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    1. Emmanuel Anoruo & Yusuf Ahmad, 2001. "Causal Relationship between Domestic Savings and Economic Growth: Evidence from Seven African Countries," African Development Review, African Development Bank, vol. 13(2), pages 238-249.
    2. Pradeep Agrawal, 2001. "The relation between savings and growth: cointegration and causality evidence from Asia," Applied Economics, Taylor & Francis Journals, vol. 33(4), pages 499-513.
    3. Bacha, Edmar L., 1990. "A three-gap model of foreign transfers and the GDP growth rate in developing countries," Journal of Development Economics, Elsevier, vol. 32(2), pages 279-296, April.
    4. De Gregorio, Jose, 1992. "Economic growth in Latin America," Journal of Development Economics, Elsevier, vol. 39(1), pages 59-84, July.
    5. Ricardo N.Bebczuk, 2000. "Productivity and saving channels of economic growth as latent variables: an application of confirmatory factor analysis," Estudios de Economia, University of Chile, Department of Economics, vol. 27(2 Year 20), pages 243-257, December.
    6. Nurudeen ABU, 2010. "Saving-Economic Growth Nexus In Nigeria, 1970-2007: Granger Causality And Co-Integration Analyses," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 5, pages 93-104, June.
    7. Orazio P. Attanasio & Lucio Picci & Antonello E. Scorcu, 2000. "Saving, Growth, and Investment: A Macroeconomic Analysis Using a Panel of Countries," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 182-211, May.
    8. repec:ebl:ecbull:v:5:y:2006:i:3:p:1-12 is not listed on IDEAS
    9. Maite Alguacil & Ana Cuadros & Vicente Orts, 2004. "Does saving really matter for growth? Mexico (1970-2000)," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(2), pages 281-290.
    10. Sinha, Dipendra & Sinha, Tapen, 1998. "Cart before the horse? The saving-growth nexus in Mexico," Economics Letters, Elsevier, vol. 61(1), pages 43-47, October.
    11. Paresh Kumar Narayan & Seema Narayan, 2006. "Savings behaviour in Fiji: an empirical assessment using the ARDL approach to cointegration," International Journal of Social Economics, Emerald Group Publishing, vol. 33(7), pages 468-480, July.
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    Citations

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    Cited by:

    1. Aneta Maria Kłopocka & Tomasz Kopczyński & Grażyna Lenicka-Bajer, 2014. "Financial Situation And Attitudes Towards Saving In Polish Society:Evidence From Micro Data," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 476-486, May.
    2. Lemmer, Jens, 2016. "Abgeltungsteuer erhalten: Mehrbelastungen für Sparer vermeiden," DSi-Sonderinformationen 4, DSi - Deutsches Steuerzahlerinstitut des Bundes der Steuerzahler e.V., Berlin.
    3. repec:nwe:eajour:y:2018:i:1:p:55-68 is not listed on IDEAS

    More about this item

    Keywords

    savings; economic growth; co-integration;

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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