Aizenman, Joshua; Cheung, Yin-Wong; Itō, Hiro - 2015
the pre-GFC period of 1999-2006, gross saving is associated with higher IR in developing and emerging markets. The … reflecting the frantic market conditions driven by financial instability. Nevertheless, the propensity to import and gross saving … positive effect of gross saving on IR holdings are in line with our expectations, we find a change in the link between outward …