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European Capital Flows and Regional Risk

Author

Listed:
  • Tamim Bayoumi
  • Lucio Sarno
  • Mark P. Taylor

Abstract

We look at a range of issues concerning capital flows in Europe. We gauge the extent of European capital mobility through an examination of saving–investment correlations. Moreover, we provide further evidence on the extent and effect of European capital mobility through an examination of GNP/GDP ratios across the largest European countries and a comparison of these with similar calculations executed for regions within the UK. Finally, we examine the role of private financial markets in reducing regional risk by developing an empirical model which is then estimated on data for the European Union.

Suggested Citation

  • Tamim Bayoumi & Lucio Sarno & Mark P. Taylor, 1999. "European Capital Flows and Regional Risk," Manchester School, University of Manchester, vol. 67(1), pages 21-38, January.
    • Handle: RePEc:bla:manchs:v:67:y:1999:i:1:p:21-38
    DOI: 10.1111/1467-9957.00131
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    Cited by:

    1. Chakrabarti, Avik, 2006. "The saving-investment relationship revisited: New evidence from multivariate heterogeneous panel cointegration analyses," Journal of Comparative Economics, Elsevier, vol. 34(2), pages 402-419, June.
    2. Zahir Antia & Ramdane Djoudad & Pierre St-Amant, 1999. "Canada’s Exchange Rate Regime and North American Economic Integration: The Role of Risk-Sharing Mechanisms," Staff Working Papers 99-17, Bank of Canada.
    3. Onur ÖZDEMIR, 2022. "High-Income Countries and Feldstein-Horioka Puzzle: Econometric Evidence from Dynamic Common-Correlated Effects Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 45-67, April.
    4. Claudia Buch, 2004. "Cross-border banking and transmission mechanisms in Europe: evidence from German data," Applied Financial Economics, Taylor & Francis Journals, vol. 14(16), pages 1137-1149.
    5. Christian Pierdzioch, 2004. "Financial Market Integration And Business Cycle Volatility In A Monetary Union," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(3), pages 422-442, August.
    6. Apergis, Nicholas & Tsoumas, Chris, 2009. "A survey of the Feldstein-Horioka puzzle: What has been done and where we stand," Research in Economics, Elsevier, vol. 63(2), pages 64-76, June.
    7. Jerry Coakley & Ana-Maria Fuertes & Fabio Spagnolo, 2004. "The Feldstein-Horioka puzzle is not as bad as you think," Money Macro and Finance (MMF) Research Group Conference 2003 17, Money Macro and Finance Research Group.
    8. Lukáš Frýd, 2020. "Alternativní pojetí Feldsteinova-Horiokova modelu za předpokladu proměnlivých parametrů: studie dopadu vstupu České republiky do Evropské unie [Alternative Concept of the Feldstein-Horioka Model un," Politická ekonomie, Prague University of Economics and Business, vol. 2020(2), pages 121-141.

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