The purpose of this paper is to show that the use of panel data can shed some light on the FeldsteinHorioka puzzle. The use of panel data would bring in two advantages. First, it would avoid the bias towards low capital mobility brought by the use of time-averaged data. Second, it would make possible to take into account specific effects (heterogeneity) like a country’s size. Pooling annual dat...

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 ...

in this paper, we first review shortly movements in international monetary system and various theories of capital flows including portfolio and balance of payments approaches. then, we will focus particularly on feldstein- horioka (f-h) approach by which capital mobility is analyzed for 16 developing countries over 1980-2003 through a panel data method. the main objective of this paper is thus ...

Yatırım ve tasarruf arasındaki ilişkinin belirlenmesi iktisat yazınının önemli bir konusu olmuştur. Bu sebeple Feldstein Horioka (1980) tarafından öne sürülen yurtiçi yatırım korelasyonu gelişmekte olan ekonomiler için gözden geçirilmiş 1990-2020 dönemi test edilmiştir. Veriler panel veri özellikleri, yatay kesit bağımlılık heterojenliğin varlığı ile uygun şekilde analiz Genişletilmiş Ortalama ...