The role of savings in economic development the U.S. and Japanese experiences |
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Authors: | Dharmendra Dhakal Richard Grabowski Michael P. Shields |
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Abstract: | This paper explores the relationship between savings and growth in the United States and in Japan within a simple Granger causality framework. For Japan, growth caused savings before World War II while after World War II savings caused growth. For the US, growth caused savings after World War II. These results suggest that the savings-growth relationship may depend upon the stage of development. |
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Keywords: | Growth savings US Japan causality |
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