Savings,investment,and growth in Nepal:an empirical analysis  

作　　者：Aadersh Joshi Sumit Pradhan Jagadish Prasad Bist 

机构地区：[1]Global College International affiliated to Midwestern University,Kathmandu,Nepal [2]Uniglobe College affiliated to Pokhara University,Kathmandu,Nepal [3]The British College affiliated to University of the West of England,Bristol,UK,Kathmandu,Nepal

出　　处：《Financial Innovation》2019年第1期679-691,共13页金融创新（英文）

摘　　要：This study analyzes the relationship between savings,investment,and economic growth in Nepal over 1975–2016.The structural breaks in the variables have been accounted for using the(Zivot and Andrews’s,J Bus Econ Stat 10:251–2701992)unit root test along with(Gregory and Hansen’s,Oxf Bull Econ Stat 58:555–560,1996)cointegration approach.The ARDL approach to cointegration in the presence of structural breaks has also been utilized to analyze the long-and short-run dynamics of savings,investment,and growth in Nepal.The results show structural breaks in the real GDP per capita during 2001 when the Royal Massacre and a state of emergency have taken place in Nepal.After allowing for this structural break,evidence of a cointegration relationship amongst savings,investment,and economic growth was identified.The estimates of the ARDL approach suggest that investment has a significant and positive impact on economic growth.However,gross domestic savings have a negative impact on growth in the long run.These results clearly show weaknesses of the economy in mobilizing savings into productive sectors.

关 键 词：SAVINGS INVESTMENT Economic Growth Structural Break ARDL Model 

分 类 号：F42[经济管理—产业经济]