| dc.contributor.author | Amirkhalkhali, Seyed Samad. | en_US |
| dc.date.accessioned | 2014-10-21T12:34:36Z | |
| dc.date.available | 1990 | |
| dc.date.issued | 1990 | en_US |
| dc.identifier.other | AAINN64384 | en_US |
| dc.identifier.uri | http://hdl.handle.net/10222/55171 | |
| dc.description | In this study an attempt is made to examine the saving-investment relationship, an issue which has received particular attention in the economic literature. To this end, the seven major OECD countries were considered to determine the direction of causation between private domestic saving and private domestic investment within the framework of Granger causality tests. We specified three different causal models for purposes of investigating the relationship between the two macroeconomic aggregates of saving and investment. The first two causal models were bivariate with the difference being the manner in which we determined the lag term structures. We then investigated the effects of interest rate and income on the causal relationship between saving and investment within a multivariate causal framework which constituted our third model. Within each model, three different measures of saving and investment were considered: the nominal values, the real values and the propensities. | en_US |
| dc.description | The results of this study offer some support for the view that domestic saving plays an active rather than a passive role in capital formation. However, the support is rather qualified in the sense that our findings suggest that there are intercountry differences in the relation between saving and investment and accordingly, with different policy implications. For instance, while the cases of Japan and the U.S.A. appear to support the view that more saving will lead to more capital formation and higher economic growth, this is not true of Canada and the U.K. Further, while the view that emphasizes the role of saving in capital formation is in some ways vindicated by our country-specific results, our findings appear to support the view that considers income rather than interest rate as the major determinant of saving. Altogether, the results of our study point out that the direction of the causal relationship between saving and investment is basically a question that depends on the specific country being studied and this should not be overlooked in analysis and policy prescriptions. | en_US |
| dc.description | Thesis (Ph.D.)--Dalhousie University (Canada), 1990. | en_US |
| dc.language | eng | en_US |
| dc.publisher | Dalhousie University | en_US |
| dc.publisher | | en_US |
| dc.subject | Economics, Finance. | en_US |
| dc.title | On the relationship between saving and investment: An empirical investigation into causality. | en_US |
| dc.type | text | en_US |
| dc.contributor.degree | Ph.D. | en_US |
