Financial Sector Development - Futile or Fruitful? An Examination of the Determinants of Savings in Sri Lanka

No DP2003-14, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Using dynamic econometric techniques the paper investigates the determinants of private saving in Sri Lanka with a primary focus on the role of financial sector development. Empirical evidence is obtained indicating the existence of the Ricardian equivalence hypothesis, and the significance of credit constraints on private saving. Most significantly, an index of financial sector development variables is constructed, based on measures of the relative size of the financial sector, the absolute size, and the activity of financial intermediaries.

Keywords: Credit; Econometrics; Economic development; Saving and investment (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (13)

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