Savings Mobilization, Financial Development and Liberalization: The Case of Malaysia

James B. Ang ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper attempts to identify the key factors behind Malaysia’s remarkable savings performance. Drawing on the life cycle theory, the saving function is estimated by incorporating other relevant structural features and institutional settings of the Malaysian economy into the specification. Particular emphasis has been placed on the roles of financial factors in mobilizing funds in the private sector. The results suggest that financial deepening and increased banking density tend to encourage private savings. Development of insurance markets and liberalization of the financial system, however, tend to exert a dampening effect on private savings.

Keywords: private savings; financial development; Malaysia; ARDL bounds test (search for similar items in EconPapers)
JEL-codes: O53 O16 E21 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev and nep-sea
Date: 2010
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Related works:
Journal Article: SAVINGS MOBILIZATION, FINANCIAL DEVELOPMENT AND LIBERALIZATION: THE CASE OF MALAYSIA (2011)
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:21718

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