文章基本信息

标题：Are domestic savings and economic growth correlated? Evidence from a sample of Central and East European countries
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作者：Serhan Ciftcioglu ; Nermin Begovic
期刊名称：Problems and Perspectives in Management
印刷版ISSN：1727-7051
电子版ISSN：1810-5467
出版年度：2010
卷号：8
期号：3
页码：30-35
语种：English
出版社：LLC "CPC "Business Perspectives"
摘要：Neo-classical model and most of the different versions of new generation growth models predict a positive effect of higher saving rate on economic growth at least in the medium term.In this paper,we investigate this hypothesis using panel data analysis for a sample of Central and East European countries.The specification tests (in particular,Hausman and Lagrange multiplier tests) revealed that optimal econometric specification of the model to be used for panel regression is given by Classical Pooled Regression model.The estimation results based on this model suggested that domestic saving rate has exerted a statistically significant effect on growth rate of GDP over the sample period.Given the likelihood of adverse effects of recent global crisis and the policy responses to it on saving and,therefore,investment rates in most countries,we discuss and recommend specific growth-enhancing policies that aim at increasing both the growth rate of total factor productivity and rate of accumulation of stock of human capital.
关键词：Neo-classical model and most of the different versions of new generation growth models predict a positive effect of higher saving rate on economic growth at least in the medium term.In this paper,we investigate this hypothesis using panel data analysis for a sample of Central and East European countries.The specification tests (in particular,Hausman and Lagrange multiplier tests) revealed that optimal econometric specification of the model to be used for panel regression is given by Classical Pooled Regression model.The estimation results based on this model suggested that domestic saving rate has exerted a statistically significant effect on growth rate of GDP over the sample period.Given the likelihood of adverse effects of recent global crisis and the policy responses to it on saving and,therefore,investment rates in most countries,we discuss and recommend specific growth-enhancing policies that aim at increasing both the growth rate of total factor productivity and rate of accumulation of stock of human capital.