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The saving and investment nexus for China : evidence from cointegration tests

Narayan, Paresh Kumar 2005, The saving and investment nexus for China : evidence from cointegration tests, Applied economics, vol. 37, no. 17, pp. 1979-1990.

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Title The saving and investment nexus for China : evidence from cointegration tests
Author(s) Narayan, Paresh Kumar
Journal name Applied economics
Volume number 37
Issue number 17
Start page 1979
End page 1990
Total pages 11
Publisher Routledge
Place of publication London, England
Publication date 2005
ISSN 0003-6846
1466-4283
Summary The saving and investment nexus as postulated by Feldstein and Horioka (FH) (1980) is revisited. The saving investment correlation for China is estimated over the periods 1952-1998 and 1952-1994, the latter culminating in a period of fixed exchange rate regime. Amongst the key results, it is found that saving and investment are correlated for China for both the period of the fixed exchange rate and the entire sample period. With high saving-investment correlation, the results suggest that the Chinese economy is in conformity with the FH hypothesis. This is a valid outcome, for in China capital mobility was fairly restricted over the 1952-1994 period as indicated by the relatively low foreign direct investment.
Language eng
Field of Research 140207 Financial Economics
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2005, Taylor and Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30024668

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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