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On the causality between saving and growth : long and short-run dynamics and country heterogeneity
Uppsala University, Humanistisk-samhällsvetenskapliga vetenskapsområdet, Faculty of Social Sciences, Department of Economics.
1999 (English)Report (Other academic)
Abstract [en]

The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper contributes to this literature. As opposed to the previous studies, which have mainly utilised panel-estimation methods, the tests of causal chains here are carried out in time-series settings. Saving and GDP are estimated in bivariate vector autoregressive or vector error-correction models for Sweden, UK, and USA, and tests of Granger non-causality are performed within the estimated systems. The main results show that the causal chains linking saving and output differ across countries, and also that causality associated with adjustments to long-run relations might go in different directions than causality associated with short-term disturbances.

Place, publisher, year, edition, pages
Uppsala: Nationalekonomiska institutionen , 1999. , p. 29
Series
Working paper, ISSN 0284-2904
Keywords [en]
Economics
Keywords [sv]
Nationalekonomi
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-2465ISBN: 99-3071694-7 OAI: oai:DiVA.org:uu-2465DiVA, id: diva2:128726
Available from: 1999-01-01 Created: 1999-01-01

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CiteExportLink to record
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Cite
Citation style
  • apa
  • ieee
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  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf