Tóm tắt
Purpose – The study explores the relationship among economic growth, population growth, gross savings and energy consumption over the period 1987– 2017. Design/methodology/approach – The autoregressive distributed lag (ARDL) bounds test approach by Pesaran et al. (2001) was employed to investigate variables for the study. Findings – In the key findings, both gross savings and population growth negatively affect economic growth. However, energy consumption has positive impact on economic growth. Practical implications – These findings call for policy portfolios to address the impacts of gross savings and population growth on economic development. In particular, the financial sector needs to be revamped to be more efficient in channeling funds from the surplus units to the deficit units. It is recommended that investment be made in financial and technological innovation to provide efficient access to credits and other financial products even though individual savings may not move with economic growth. Originality/value – Many studies have explored the nexus between savings and economic growth without considering population growth and energy consumption. In this study, the relationship among savings, economic growth, population growth and energy consumption provide additional knowledge in policy formulation.
Chủ đề
Economic growth, Gini index of Ghana, Energy consumption, Gross savings
Nhà xuất bản
Kinh Tế Quốc Dân???dc.relation.reference???
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(2002), “Reconceptualizing the developmental state: public savings and economic growth”, World Development, Vol. 30 No. 10, pp. 1697-1712. Kwiatkowski, D., Phillips, P.C., Schmidt, P. and Shin, Y. (1992), “Testing the null hypothesis of stationarity against the alternative of a unit root”, Journal of Econometrics, Vol. 54 Nos 1-3, pp. 159-178. Larbi, D.A. (2013), “The long run determinants of private domestic savings in Ghana: a cointegration approach”, Journal of Economics and Sustainable Development, Vol. 4 No. 4, pp. 125-136. Lean, H.H. and Song, Y. (2009), “The domestic savings and economic growth relationship in China”, Journal of Chinese Economic and Foreign Trade Studies. MacKinnon, J.G. (1996), “Numerical distribution functions for unit root and cointegration tests”, Journal of Applied Econometrics, Vol. 11 No. 6, pp. 601-618. MacKinnon, J.G., Haug, A.A. and Michelis, L. (1999), “Numerical distribution functions of likelihood ratio tests for cointegration”, Journal of Applied Econometrics, Vol. 14 No. 5, pp. 563-577. Modigliani, F. and Brumberg, R. (1954), “Utility analysis and the consumption function: an interpretation of cross-section data”, Franco Modigliani, Vol. 1 No. 1, pp. 388-436. Narayan, P.K. (2005), “The saving and investment nexus for China: evidence from cointegration tests”, Applied Economics, Vol. 37 No. 17, pp. 1979-1990. Narayan, P.K. and Narayan, S. (2006), “Savings behaviour in Fiji: an empirical assessment using the ARDL approach to cointegration”, International Journal of Social Economics. Nurkse, R. (1953), Problems of Capital Formation in Undeveloped Countries, Basil Blackwell, Oxford. Odhiambo, N.M. (2008), “Financial depth, savings and economic growth in Kenya: a dynamic causal linkage”, Economic Modelling, Vol. 25 No. 4, pp. 704-713. Odhiambo, N.M. (2009), “Savings and economic growth in South Africa: a multivariate causality test”, Journal of Policy Modeling, Vol. 31 No. 5, pp. 708-718.
Adam, I.O., Musah, A. and Ibrahim, M. (2017), “Putting the Cart before the Horse? Re- examining the relationship between domestic savings and economic growth in selected sub-Saharan African countries”, Journal of African Business, Vol. 18 No. 1, pp. 102-123. Aghion, P., Comin, D., Howitt, P. and Tecu, I. (2016), “When does domestic savings matter for economic growth?”, IMF Economic Review, Vol. 64 No. 3, pp. 381-407. Bist, J.P. and Bista, N.B. (2018), “Finance-growth nexus in Nepal: an application of the ARDL approach in the presence of structural breaks”,...See More
