Are The Savings Volume and Its Determinants Similar in MINT Countries?

OpenAlex İngilizce

MINT countries stand out with their growth potential among developing countries. Although their structu-ral characteristics, macroeconomic indicators and institutional development differ from each other, MINT countries are expected to become global economic actors in the near future. One of the important deter-minants of becoming a global economic power is savings rates and, accordingly, the volume of invest-ments. Savings are the most important factor that is effective in increasing investments and accelerating the process of economic growth in developing countries. In this study, the savings rates of MINT countries are examined both in terms of volume and determining variables and similarities and differences between MINT countries are tried to be determined. In the study, ARDL boundary test approach is adopted by con-sidering the period between 1980-2018. According to the results obtained, the factors that are effective in determining savings rates in each country are different from each other; however, it is concluded that the current account deficit, age dependency ratio and foreign direct investment are effective in determining savings rates.