Dynamic savings behaviour in an oil-dependent economy: the case of Trinidad and Tobago

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Date: Oct. 1992
From: The Journal of Development Economics(Vol. 39, Issue 2)
Publisher: Elsevier Science Publishers
Document Type: Article
Length: 97 words

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Abstract :

This paper tests for the influence of income, demography, terms of trade, export orientation and real interest rates on savings behaviour in Trinidad and Tobago within an error correction formulation. It finds evidence in favour of the error-correction mechanism, under which the savings rate varies procyclically in the short run but remains constant in the steady state. In addition, long-run and short-run significant effects are found for income, real interest rates and export orientation. Demography is significant only in the long run while the terms of trade is not significant in either the short or long run.

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Gale Document Number: GALE|A13577483