Saving is one of the preeminent integral of economic growth. The desideratum of this study is to investigate the determinants of national saving in four West African countries, namely, Ghana, Togo, Burkina Faso, and Cote d" Ivoire. The study uses annual data from the World Bank database for the period 1997-2016. The Augmented Dickey-Fuller (ADF) test, Cumulative sum of residuals (CUSUM) test, and autoregressive distributed lag (ARDL) bounds test were used to examine the stationarity, stability, and cointegration of the variables respectively. ARDF model analysis was carried out to determine the short run and long run determinants of national saving in the studied countries. The long run results reveal that gross domestic product, per capita income and real interest rate has a statistically and significant positive effect on gross savings, were as age dependency ratio has a statistical, and insignificant negative relationship with gross saving. The short run results suggest that gross domestic product and per capita income possesses positive statistical significant effects on gross national savings.It is recommended that, in other to promote saving, growth and development, pragmatic and realistic economic policies should be formulated to strengthen all monetary and financial institutions in the respective countries.
This research paper assesses the impact of exchange rates on the economic growth of Cambodia's. The study used variables such as gross domestic product (GDP) indicating Cambodia's economic growth, as well as some explanatory variables such as exchange rate (EXR), broad money (M2), and openness to trade (TOP), rate of inflation (IFR) and foreign direct investment (FDI). The study used an ordinary least squares (OLS) regression model to estimate the effects of exchange rates on Cambodia's economic growth. The research data was downloaded from the World Bank database. According to estimates, the results show that the impact of exchange rate (EXR) and openness to trade (TOP) on GDP is 1%. Exchange rate is positively correlated with GDP, while trade openness is negatively correlated with GDP. During the period of study (1995-2017), other variables such as broad money (M2), inflation rate (IFR), and foreign direct investment (FDI) possess not significant effect on Cambodia's GDP.
This paper investigates determinants of gross domestic saving of eighteen Asian countries. Eighteen Asian countries were selected, based on the availability of data from the year 1995-2016. Secondary panel data of the determinants of gross domestic saving were obtained from the official website of the World Bank. Different statistical techniques such as fixed effect model, descriptive statistics and correlation matrix were employed in this research study. The results of the secondary data revealed that gross domestic product, age dependency ratio, broad money and inflation have statistically significant effect on the gross domestic savings while Tax revenue have non-significant effect on gross domestic saving. Gross domestic product, broad money and tax revenue have positive effect on gross domestic saving while age dependency ratio and inflation have negative effect on gross domestic saving. It is recommended that government of selected countries should adopt proper policies for financial institutions in order to encourage saving behavior among the people of their countries.
A dilemma in international macroeconomics that have been being empirical debating is Meese-Rogoff exchange rate disconnect as the persistent research finding of disengaging between exchange rate and macroeconomic fundamentals. This study analyses the evidence of the exchange rate disconnect puzzle of Indonesian Rupiah vis-á-vis the United States dollar. By using ARDL, the result showed that in the short-run, Dornbusch-Frankel sticky price model explains better the refusing of the puzzle evidence which provided macroeconomic fundamental that affect exchange rate movement. Nevertheless, in the long-run, Frenkel-Bilson flexible price model provide a little support in the refusing of the puzzle evidence.
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