Demography, financial openness, national savings and external balance

Graff, Michael, Tang, Kam Ki and Zhang, Jie (2008). Demography, financial openness, national savings and external balance. In: Proceedings of: 13th Australasian Macroeconomics Workshop. 13th Australasian Macroeconomics Workshop, Sydney, Australia, (). 26–27 March 2008.

Author Graff, Michael
Tang, Kam Ki
Zhang, Jie
Title of paper Demography, financial openness, national savings and external balance
Conference name 13th Australasian Macroeconomics Workshop
Conference location Sydney, Australia
Conference dates 26–27 March 2008
Convener David Kim
Proceedings title Proceedings of: 13th Australasian Macroeconomics Workshop
Publication Year 2008
Sub-type Fully published paper
Total pages 35
Language eng
Abstract/Summary This paper examines the impact of demographic factors on saving, investment, and external balances. We derive a number of semi-structural equations from national accounting principle and the principle that external balances for the world as a whole must sum to zero. The resulting equations embody both closed, partially open and completely open economies as special cases, and are arguably more properly specified than those previously used in the literature. We apply these semi-structural equations to a large panel data set. While our findings by and large are in agreement with most of previous studies, our semi-structural equations give much more plausible estimation results for saving and investment than conventional specification.
Subjects 140210 International Economics and International Finance
1402 Applied Economics
Keyword Demography
Current account
Panel data
Q-Index Code EX
Q-Index Status Provisional Code
Additional Notes Paper title listed in Conference Program is: Estimating the effects of demography on saving, investment and the current account. The actual title of paper (pdf version) linked to the above title in the conf.program is different (as it is in this record).

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Created: Thu, 25 Feb 2010, 15:33:01 EST by June Temby on behalf of Faculty of Business, Economics & Law