커버이미지 없음
KCI등재
학술저널
Savings Wedge, Productivity Growth, and International Capital Flows
- Ly Dai Hung
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제35권 제3호
- 등재여부 : KCI등재
- 2020.08
- 503 - 518 (16 pages)
The empirical evidence derived from an analysis of a panel sample of 162 economies for the 1980-2013 period demonstrates that a higher productivity growth rate is associated with greater savings. The savings wedge, a type of financial friction, underlies this correlation.T he growth rate has a positive influence on investment.S ince net capital inflows represent a gap between domestic investment and savings, their fluctuation over time is driven by the dynamics of productivity growth.T he evidence also implies that the neoclassical growth model works on the investment side while the allocation puzzle still applies on the savings side of the net capital inflows equation.
I. Introduction
II. Framework
III. Evidence
IV. Conclusion
References