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Title: |
Estimating Investment and Savings Functions
for Developing Countries, with an Application to Latin America |
| Author: |
Leff, Nathaniel
H.; Sato, Kazuo |
| Author
Affiliation: |
Columbia U;
Rutgers U |
| Source: |
International Economic Journal, Autumn 1988, v. 2, no. 3, pp. 1-17 |
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Publication Date: |
Autumn 1988 |
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Abstract: |
This paper investigates the conditions
that determine annual investment and saving in developing countries. Our
model accords special importance to the response of investment and
saving to desired wealth ratios, current income growth, and expected
inflation. We then estimate the functions with time-series data for 21
Latin American countries. The paper concludes with discussion of the
research agenda for macroeconometric modeling of less-developed
economies. |
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