The Negative Correlation Between Foreign Savings and Domestic Savings

Maria Claret M. Mapalad and Petros K. Liverakos
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Maria Claret M. Mapalad: School of Economics, University of the Philippines, Diliman, Quezon City
Petros K. Liverakos: Ministry of Finance, Athens, Greece

Philippine Review of Economics, 1997, vol. 34, issue 1, 38-49

Abstract: We show that the negative correlation between foreign and domestic savings arises from the non-stationarity of these variables. We propose a more appropriate technique for testing a causal relation such as the one claimed by the revisionist view.

Date: 1997
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