Savings and Financial Sector Development: Panel Cointegration Evidence from Africa

Roger Kelly and George Mavrotas

No DP2003-12, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The paper uses different measures of financial sector development for a dynamic heterogeneous panel of 17 African countries to examine the impact of financial sector development on private savings. An innovative econometric methodology is also employed related to a series of cointegration tests within a panel. This is an important contribution since traditional panel data analysis adopted in previous studies suffers from serious heterogeneity bias problems.

Keywords: Econometric models (Finance); Panel analysis; Saving and investment (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (6)

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Related works:
Journal Article: Savings and financial sector development: panel cointegration evidence from Africa (2008)
Working Paper: Savings and Financial Sector Development: Panel Cointegration Evidence from Africa (2002)
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:dp2003-12

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