Factors Affecting Savings Behaviour in SEACEN Countries

Y.M.W.B. Weerasekera

in Staff Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: This paper attempts to identify the factors affecting savings behaviour in the SEACEN countries for the period 1970-1991, using a simple regression model. The time series data have been tested for stationarity using unit roots and cointegration techniques. Results indicate that current income, exports and dependency ratios are important determinants of savings. The response of savings to interest rates is inconclusive. In general, policies to promote economic growth, exports and those aimed at reducing population dependency ratios will help generate higher levels of savings. While further financial liberalisation may be necessary, other policies to achieve macroeconomic stability may lend greater support at realizing higher level of savings in the SEACEN countries.

Date: 1993
ISBN: 983-9553-86-0
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