International capital mobility in OECD countries: The Feldstein-Horioka 'puzzle' revisited

被引：27

作者：

Hussein, KA ^{[1
]}

机构：

[1] Univ Kent, Dept Econ, Canterbury CT2 7NP, Kent, England

来源：

ECONOMICS LETTERS | 1998年 / 59卷 / 02期

关键词：

cointegration; Feldstein-Horioka puzzle; saving-investment;

D O I：

10.1016/S0165-1765(98)00045-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We utilise the most recent time series techniques of dynamic OLS and examine international capital mobility across 23 OECD countries. We adopt the saving-investment approach where the endogeneity problem is confronted. Our findings show that capital has been remarkably mobile in most countries over the last three decades. (C) 1998 Elsevier Science S.A.

引用

页码：237 / 242

页数：6

共 21 条

[1]

Banerjee A, 1986, OXFORD B ECON STAT, V52, P92

[2]

BAXTER M, 1993, AM ECON REV, V83, P416

[3] Cointegration of long span saving and investment [J].

Coakley, J ;

Kulasi, F .

ECONOMICS LETTERS, 1997, 54 (01) :1-6

[4] Does financial development cause economic growth? Time-series evidence from 16 countries [J].

Demetriades, PO ;

Hussein, KA .

JOURNAL OF DEVELOPMENT ECONOMICS, 1996, 51 (02) :387-411

[5] LIKELIHOOD RATIO STATISTICS FOR AUTOREGRESSIVE TIME-SERIES WITH A UNIT-ROOT [J].

DICKEY, DA ;

FULLER, WA .

ECONOMETRICA, 1981, 49 (04) :1057-1072

[6]

DOOLEY M, 1987, INT MONET FUND S PAP, V34, P503

[7] DOMESTIC SAVING AND INTERNATIONAL CAPITAL FLOWS [J].

FELDSTEIN, M ;

HORIOKA, C .

ECONOMIC JOURNAL, 1980, 90 (358) :314-329

[8]

Feldstein M., 1983, EUROPEAN EC REV, V21, P139

[9] POLITICAL VS CURRENCY PREMIA IN INTERNATIONAL REAL INTEREST DIFFERENTIALS - A STUDY OF FORWARD RATES FOR 24 COUNTRIES [J].

FRANKEL, JA ;

MACARTHUR, AT .

EUROPEAN ECONOMIC REVIEW, 1988, 32 (05) :1083-1114

[10] INTERNATIONAL CAPITAL MOBILITY AMONGST THE MAJOR INDUSTRIALIZED COUNTRIES - TOO LITTLE OR TOO MUCH [J].

GHOSH, AR .

ECONOMIC JOURNAL, 1995, 105 (428) :107-128

← 1 2 3 →