The Feldstein-Horioka puzzle and transition economies
نویسندگان
چکیده
منابع مشابه
The Feldstein – Horioka puzzle revisited *
This paper confirms the evidence that the Feldstein–Horioka test does not reflect capital mobility in the real side world economy, but only the variability between external and domestic saving. 2000 Elsevier Science S.A. All rights reserved.
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The empirical evidence that national saving and domestic investment are correlated, also known as Feldstein-Horioka (1980) Puzzle, has received significant attention in the literature since Feldstein and Horioka interpret it as an evidence of low international capital mobility. This paper argues that there is nothing mysterious in the finding that investment and saving are correlated. Since the...
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This paper tests the Feldstein-Horioka (1980) hypothesis that the investment-to-output ratio moves one-for-one with the saving-to-output ratio, using annual time-series data on fteen European countries (Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden, and the United Kingdom) and the econometric framework developed by...
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This paper presents an investigation into the relationship between investment and savings in Australia over the period 1960-2007. Using four time series techniques our results reveal that the Feldstein-Horioka puzzle exists in a weak form with a lower saving retention coefficient. Granger Causality tests illustrate that savings Granger cause investment both in the short and long runs. Our resul...
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This paper investigates whether the Feldstein and Horioka (1980) argument on domestic saving-investment relationship is supported by the data of the countries in the Middle East and North Africa (MENA) region when the financial development levels and exchange rate regimes are taken into account. To this end, we employ both the ARDL bounds cointegration test and panel mean group procedures. The ...
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ژورنال
عنوان ژورنال: Economic Annals
سال: 2013
ISSN: 0013-3264,1820-7375
DOI: 10.2298/eka1397023p