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Title: |
The Savings Ratio and Financial Repression in
Trinidad and Tobago |
| Author: |
Pentecost, Eric
J.; Ramlogan, Carlyn |
| Author
Affiliation: |
Loughborough U;
Central Bank of Trinidad & Tobago |
| Source: |
International Economic Journal, Summer 2000, v. 14, no. 2, pp. 67-84 |
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Publication Date: |
Summer 2000 |
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Abstract: |
This paper investigates the hypothesis of
financial repression in the context of the determinants of the private
savings ratio in Trinidad and Tobago, using the multivariate,
cointegration time-series methodology. Four alternative proxies are used
to represent financial repression, including the real interest rate, the
real interest rate differential between the world and domestic economy
and two alternative measures of exchange rate misalignment. We find that
there is strong evidence to support the hypothesis of financial
repression in Trinidad and Tobago over the sample period and that
financial liberalisation may significantly enhance the growth of real
per capita income. |
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