Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/52846
Authors: 
Kelly, Roger
Mavrotas, George
Year of Publication: 
2003
Series/Report no.: 
WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2003/14
Abstract: 
Using dynamic econometric techniques the paper investigates the determinants of private saving in Sri Lanka with a primary focus on the role of financial sector development. Empirical evidence is obtained indicating the existence of the Ricardian equivalence hypothesis, and the significance of credit constraints on private saving. Most significantly, an index of financial sector development variables is constructed, based on measures of the relative size of the financial sector, the absolute size, and the activity of financial intermediaries. The index is found to have a significant positive influence on the level of private saving, giving support to the hypothesized nexus between saving and financial sector development. – saving ; financial sector development ; cointegration ; principal components ; Sri Lanka
JEL: 
E21
E44
C22
ISBN: 
9291904112
Document Type: 
Working Paper

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