Hunte, C. Kenrick; Bryant, Sarah K. - In: Savings and development : quarterly review 23 (1999) 3, pp. 235-253
Using a modified money supply and demand model, this study shows that financial deepening, defined as M2/GDP, is positively influenced by the marginal propensity to save, and is inversely related to money velocity. Financial deepening is enhanced when savings increase, while saving propensities...