The Effect of Macroeconomic Variables on Private Savings in BRICS-T Economies

Considering the fact that savings are very important for developing countries and they should be increased, in this study, effects of macroeconomic variables consisting economic growth rate, inflation real interest rate per capita income on private BRICS-T countries, have been examined with annual data 1996-2019 period. For purpose, firstly, cross-sectional dependency homogeneity situations between mentioned evaluated. Then, second-generation panel unit root test, CADF Test, has applied to test stagnation. Westerlund (2008) Durbin-H method used determine long-term cointegration relationship. In estimation coefficients, inter-unit correlation heterogeneity, common correlated – CCE estimator proposed by Pesaran (2006) used. Although findings differ reveal there relationships savings.