Is capital really mobile across the border?
AbstractThe existing theories on capital mobility use either the saving-investment parity condition or the interest parity condition. The assumptions of balanced budget or purchasing power parity condition underlying these theories, however, are rarely met. This study, therefore develops a different approach called 'current account surplus saving surplus parity condition' to measure the degree of capital mobility and apply the model on US time series data. It is found that US capital is mobile internationally.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 13 (2006)
Issue (Month): 8 ()
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Web page: http://www.tandfonline.com/RAEL20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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