A different result is reported by Barro and Sala-i-Martin (1990), who analyse short-term real interest rates in Belgium, Canada, France, Germany, Japan, the Netherlands, Sweden, the United Kingdom and the United States over the period 1959-1988, finding that fiscal variables are not significant either for the expected real interest rate or for the domestic investment/saving ratio.
We, in the Reserve Bank, believe that this event reinforces our joint commitment to greater collaboration between our two countries, economies, financial sectors, central banks, and academia. I would like to conclude by expressing my gratitude to the University, in particular, Vice Chancellor Professor Fagoonie for his kind invitation to me, and Honorary Professor Bheenick for making the conferment ceremony a very memorable one.