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An Econometric Investigation into the Macroeconomic Relationship between Investment and Saving: Evidence from the EU Region

  • Constantinos Alexiou

Within the EU region, the emerging policy orientation of pursuing balanced or in-surplus budgets as a means of revitalising investment has dominated economic policy. Nonetheless, the notion that saving must be boosted in order to expand investment, is a contention that has to be taken with a 'pinch of salt'. This study, by elaborating on the causal dimension between investment and saving, provides econometric evidence on the basis of which investment is a variable of the utmost importance.

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Article provided by Taylor & Francis Journals in its journal International Review of Applied Economics.

Volume (Year): 18 (2004)
Issue (Month): 1 ()
Pages: 1-14

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Handle: RePEc:taf:irapec:v:18:y:2004:i:1:p:1-14
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  1. Lawrence H. Summers, 1986. "Tax Policy and International Competitiveness," NBER Working Papers 2007, National Bureau of Economic Research, Inc.
  2. Steven M. Fazzari & R. Glenn Hubbard & BRUCE C. PETERSEN, 1988. "Financing Constraints and Corporate Investment," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1), pages 141-206.
  3. repec:cup:cbooks:9780521365963 is not listed on IDEAS
  4. Campbell, John Y, 1991. "A Variance Decomposition for Stock Returns," Economic Journal, Royal Economic Society, vol. 101(405), pages 157-79, March.
  5. Cesaratto, Sergio, 1999. "Savings and Economic Growth in Neoclassical Theory," Cambridge Journal of Economics, Oxford University Press, vol. 23(6), pages 771-93, November.
  6. Martin Feldstein & Philippe Bacchetta, 1991. "National Saving and International Investment," NBER Chapters, in: National Saving and Economic Performance, pages 201-226 National Bureau of Economic Research, Inc.
  7. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-29, June.
  8. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
  9. Lawrence Summers & Chris Carroll, 1987. "Why Is U.S. National Saving So Low?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 607-642.
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