EFFECTS OF FINANCIAL CONDITIONS ON SAVING, INVESTMENT AND GROWTH

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HAGHIGHAT J.

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Journal: JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH) Year:2005 | Volume:5 | Issue:3 Page(s): 37-66

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Title

EFFECTS OF FINANCIAL CONDITIONS ON SAVING, INVESTMENT AND GROWTH

Author(s)

HAGHIGHAT J. | Issue Writer Certificate

Keywords

FINANCIAL CONDITIONSQ4

SAVINGQ2

INVESTMENTQ2

GROWTHQ4

INTEREST RATEQ4

Abstract

Empirical Research on financial repression focused initially on its SAVING and INVESTMENT effects. The results imply that Gaps between controlled and free-market INTEREST RATEs widened, and institutional INTEREST RATEs became negative in real terms almost everywhere.In evaluating the experience of negative real institutional INTEREST RATEs, Millard Long (1983, 22) enumerates the following effects: reduced national SAVING, more capital flight, worse rnisallocation of resources, excessive lending to prime borrowers, resurgence of noninstitutional money markets, increased use of foreign fmancial institutions, and increased problems of monetary control. Since then potential effects of FINANCIAL CONDITIONS have been tested on numerous groups of countries with an array of alternative techniques. While few would disagree that financial development occurs in conjunction with rising per capita incomes, the issue of causality is hotly disputed. Does financial development cause economic GROWTH or does it follow passively in the wake of economic GROWTH.This paper surveys the available quantitative empirical evidence on the effects of FINANCIAL CONDITIONS (specially INTEREST RATE) on the volume of SAVING, the quantity and efficiency of INVESTMENT, and the rate of economic GROWTH in developing countries and Iran. Also we investigate factors affect on those variables in Iranian economics.

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APA: Copy

HAGHIGHAT, J.. (2005). EFFECTS OF FINANCIAL CONDITIONS ON SAVING, INVESTMENT AND GROWTH. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), 5(3), 37-66. SID. https://sid.ir/paper/86575/en

Vancouver: Copy

HAGHIGHAT J.. EFFECTS OF FINANCIAL CONDITIONS ON SAVING, INVESTMENT AND GROWTH. JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH)[Internet]. 2005;5(3):37-66. Available from: https://sid.ir/paper/86575/en

IEEE: Copy

J. HAGHIGHAT, “EFFECTS OF FINANCIAL CONDITIONS ON SAVING, INVESTMENT AND GROWTH,” JOURNAL OF SUSTAINABLE GROWTH AND DEVELOPMENT (THE ECONOMIC RESEARCH), vol. 5, no. 3, pp. 37–66, 2005, [Online]. Available: https://sid.ir/paper/86575/en

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