This paper investigates reasons for the sustained growth in private savings in Indonesia since 1970, in a period characterised by economic growth, demographic changes, terms of trade movements, and financial liberalisation. The main findings is that predictions from a simple life cycle model do...

In innovation analysis the logit model used to be applied on available data when the dependent variables are dichotomous. Since most of the economic variables are correlated between each other practitioners often meet the problem of multicollinearity. This paper introduces a shrinkage estimator...