2020•Scholedge International Journal of Business Policy & Governance ISSN 2394-3351Open access

Connection between Saving, Investment and Economic Growth of India

Swami Prasad Saxena, Akanksha Singh Fouzdar

Abstract

This paper scrutinizes the relationship between gross domestic saving, gross capital formation and economic growth in India during a period from 1992 to 2018. The results of cointegration analysis reveal that there is a long-run relationship between selected variables; however, the observations from the results of the Granger causality test indicate a positive relationship between saving, investment and economic growth in India. The findings explicate that saving and investment directed growth is coming from the private sector.

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Key concepts: Cointegration, Granger causality, Economics, Investment (military), Causality (physics), Monetary economics, Gross fixed capital formation, Macroeconomics