Saving is one of the important determinants of economic growth. Therefore determinants of saving are indirectly important for a sustainable economic growth. Financial sector has come into prominence as a possible determinant of saving in the globalized financial markets. This study examines the role of the development of the financial sector on savings in China, South Korea, Malaysia and Thailand, during the period of 2000-2016, by using various aggregated indicators. Significant work has been done in the past and successful results have been obtained in the selected Asian countries, in terms of increasing household savings through the financial system. However, later on, there were serious increases in the household debts of the countries concerned, while there was a significant decline in household savings. The main reason for this change is that these countries change their exports-based growth policies and turn to consumption-based growth policies.It is estimated that the financial development level of Asian countries under review is still below the average of Europe and the world, so that the level of financial development alone is not influential on savings and depends on macroeconomic or institutional factors.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
Relevant Articles | Author | # |
---|
Article | Author | # |
---|