rather than a greater 'effort' to save it. Finally, we find evidence that, while savings during the boom help to increase … post-boom income, the composition of such savings matters. Specifically, in past episodes, savings allocated to foreign … asset accumulation appear to have contributed more to post-boom income than those devoted to domestic investment. …

The study seeks to investigate empirically the direction and shape of causality among trade openness, investment and … of cointegration is sufficient to testify the existence of a long-run relationship among the variables of a particular …. In order to achieve the objective of the study, modern econometric methodologies such as unit root tests; cointegration …

1979-2001. For this purpose, the Feldstein-Horioka equation linking domestic savings and investment is estimated. However … estimation of the long-run saving retention coefficient. There is strong evidence of cointegration between domestic savings and …, there is a novel empirical approach in this study based on the employment of panel data methods of cointegration testing and …