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Japan's Saving, Financial Linkages, and Capital Mobility in East Asia before the 1997-98 Currency Crisis: An Empirical Investigation
Vinh Q. T. Dang
2010-11
Source PublicationInternational Journal of Economics and Finance
ISSN1916-971X
Volume2Issue:4Pages:221-232
Abstract

I examine financial linkages in East Asia before the 1997-98 crisis by testing long-run and causal relationships between Japan’s saving and eight other Asian economies’ domestic investment. The results suggest that there is a long-run (cointegrating) relationship between Japan’s saving and the domestic investments of four of the five crisis economies and Taiwan. There is also evidence that Japan’s saving Granger-causes the domestic investments of five economies. In contrast, no such long-run and causal relationship is found with respect to each country’s own domestic saving and investment. The results suggest a presence of financial linkage and high capital mobility in the region prior to 1997-98 and lend support to the literature on the role of financial contagion in the Asian currency crisis.

KeywordFinancial Linkages Capital Mobility Asian Currency Crisis Saving-investment Relation Japan's Saving
DOIhttps://doi.org/10.5539/ijef.v2n4p221
Indexed By其他
Language英语
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Document TypeJournal article
CollectionDEPARTMENT OF ECONOMICS
Corresponding AuthorVinh Q. T. Dang
AffiliationDepartment of Economics, University of Macau, Taipa, Macau SAR
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Vinh Q. T. Dang. Japan's Saving, Financial Linkages, and Capital Mobility in East Asia before the 1997-98 Currency Crisis: An Empirical Investigation[J]. International Journal of Economics and Finance,2010,2(4):221-232.
APA Vinh Q. T. Dang.(2010).Japan's Saving, Financial Linkages, and Capital Mobility in East Asia before the 1997-98 Currency Crisis: An Empirical Investigation.International Journal of Economics and Finance,2(4),221-232.
MLA Vinh Q. T. Dang."Japan's Saving, Financial Linkages, and Capital Mobility in East Asia before the 1997-98 Currency Crisis: An Empirical Investigation".International Journal of Economics and Finance 2.4(2010):221-232.
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