The Interest Rate, Saving and Investment in Developing Countries——A Theoretical Synthesis and a Policy Frame

doi:10.16382/j.cnki.1000-5579.2001.06.017

J. East China Norm. Univ. Philos. Soc. Sci ›› 2001, Vol. 33 ›› Issue (6): 103-108.doi: 10.16382/j.cnki.1000-5579.2001.06.017

The Interest Rate, Saving and Investment in Developing Countries——A Theoretical Synthesis and a Policy Frame

De-sheng YIN

Received:2001-04-18 Online:2001-11-01 Published:2025-12-19

Abstract

Abstract:

A micro model of the saving-investment activity, based on the theory of life cycle, is built here. The deposit has different roles in different stages of wealth accumulation. The interest rate has an operational mechanism on total saving, investment and demand of currency, which is based on a macro model. Using the micro model, we may prove the compatibility between Ronald Mckinnon's hypothesis and Edward Shaw's hypothesis, and the lag of interest effect is analyzed. How to define the total investment and saving and the demand of currency in China is an imperative problem.

Key words: Mckinnon's hypothesis and Shaw's hypothesis, theory of life cycle, demand of currency, saving — investment activity

De-sheng YIN. The Interest Rate, Saving and Investment in Developing Countries——A Theoretical Synthesis and a Policy Frame[J]. J. East China Norm. Univ. Philos. Soc. Sci, 2001, 33(6): 103-108.

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The Interest Rate, Saving and Investment in Developing Countries——A Theoretical Synthesis and a Policy Frame

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