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Autor:innen: 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
WIDER Research Paper No. 2006/100
Verlag: 
The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki
Zusammenfassung: 
Using a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a positive influence on private saving, while increases in real interest rates have a negative impact. The effectiveness of financial intermediation does not seem to have a direct effect on saving but has a significant influence on the volume of intermediation. In the long run, savings have a stable relationship with financial reform but the influence of interest rates remains negative, implying that the income effect dominates in the long run as well.
Schlagwörter: 
financial sector reform
Morocco
saving mobilization
VECM
JEL: 
E21
E44
O16
ISBN: 
9291908843
Dokumentart: 
Working Paper

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