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Saving, Growth, and Investment: A Macroeconomic Analysis Using a Panel of Countries

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  • Orazio P. Attanasio
  • Lucio Picci
  • Antonello E. Scorcu

Abstract

This paper provides a descriptive analysis of the long- and short-run correlations among saving, investment, and growth rates for 123 countries over the period 1961-94. Three results are robust across data sets and estimation methods: i) lagges saving rates are positively related to investment rates; ii) investment rates Granger cause growth rates with a negative sign; iii) growth rates Granger-cause investment with a positive sign. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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  • 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.
  • Handle: RePEc:tpr:restat:v:82:y:2000:i:2:p:182-211
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