Arbeitspapier

Financial reform and the mobilization of domestic savings: The experience of Morocco

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Using a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a positive influence on private saving, while increases in real interest rates have a negative impact. The effectiveness of financial intermediation does not seem to have a direct effect on saving but has a significant influence on the volume of intermediation. In the long run, savings have a stable relationship with financial reform but the influence of interest rates remains negative, implying that the income effect dominates in the long run as well.

ISBN
9291908843
Language
Englisch

Bibliographic citation
Series: WIDER Research Paper ; No. 2006/100

Classification
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Financial Markets and the Macroeconomy
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Subject
financial sector reform
Morocco
saving mobilization
VECM
Bankenpolitik
Finanzintermediär
Sparen
Sparförderung
Marokko

Event
Geistige Schöpfung
(who)
Baliamoune-Lutz, Mina
Event
Veröffentlichung
(who)
The United Nations University World Institute for Development Economics Research (UNU-WIDER)
(where)
Helsinki
(when)
2006

Handle
Last update
10.03.2025, 11:44 AM CET

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Object type

  • Arbeitspapier

Associated

  • Baliamoune-Lutz, Mina
  • The United Nations University World Institute for Development Economics Research (UNU-WIDER)

Time of origin

  • 2006

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