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The Saving-Investment Relationships: A Markov Switching Causality Analysis Of Cote D´Ivoire And Ghana

Author

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  • AKA, Bedia F.

Abstract

This paper investigates the empirical saving-investment relationships for Côte d’Ivoire and Ghana over the period 1960–1998, using a Markov Switching VAR model. We find regime-dependent causality from saving to investment in Côte d’Ivoire but not in Ghana. In terms of Feldstein and Horioka (1980) capital mobility hypothesis these findings suggest a more capital mobility in Ghana than in Côte d’Ivoire implying that foreign capital flows towards Côte d’Ivoire and not to Ghana during the studied period.

Suggested Citation

  • AKA, Bedia F., 2007. "The Saving-Investment Relationships: A Markov Switching Causality Analysis Of Cote D´Ivoire And Ghana," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 7(2), pages 155-162.
    • Handle: RePEc:eaa:aeinde:v:7:y:2007:i:2_13
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    Cited by:

    1. Phiri, Andrew, 2019. "The Feldstein-Horioka Puzzle and the Global Financial Crisis: Evidence from South Africa using Asymmetric Cointegration Analysis," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 72(2), pages 139-170.
    2. Phiri, Andrew, 2017. "The Feldstein-Horioka puzzle and the global recession period: Evidence from South Africa using asymmetric cointegration analysis," MPRA Paper 79096, University Library of Munich, Germany.

    More about this item

    Keywords

    Saving; Investment; Markov Switching VAR; Causalit;
    All these keywords.

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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