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dc.contributor.authorHermes, Nielsen_US
dc.contributor.authorLensink, Roberten_US
dc.date.accessioned2012-09-21T09:43:32Z-
dc.date.available2012-09-21T09:43:32Z-
dc.date.issued2005en_US
dc.identifier.isbn929190757Xen_US
dc.identifier.urihttp://hdl.handle.net/10419/63507-
dc.description.abstractThis paper aims to investigate the relationship between financial liberalization on the one hand and saving, investment and economic growth on the other hand, using a new dataset for measuring financial liberalization for a sample of 25 developing economies over the period 1973-96. We find no evidence that financial liberalization affects domestic saving and total investment (although there are some signs to believe that liberalization may actually reduce rather than increase domestic saving), whereas it is positively associated with private investment, as well as with per capita GDP growth. We find a negative relationship between financial liberalization and public investment. These results suggest that financial liberalization leads to a substitution from public to private investment, which may contribute to higher economic growth.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesResearch Paper, UNU-WIDER, United Nations University (UNU) 2005/69en_US
dc.subject.jelO16en_US
dc.subject.ddc330en_US
dc.subject.keywordfinancial liberalizationen_US
dc.subject.keywordsavingen_US
dc.subject.keywordinvestmenten_US
dc.subject.keywordeconomic growthen_US
dc.subject.stwKapitalmarktliberalisierungen_US
dc.subject.stwSparenen_US
dc.subject.stwInvestitionen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwSchwellenländeren_US
dc.titleDoes financial liberalization influence saving, investment and economic growth? Evidence from 25 emerging market economies, 1973 - 96en_US
dc.typeWorking Paperen_US
dc.identifier.ppn509141412en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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