This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
L’Intégration Européenne et la Soutenabilité Externe de l’Union Européenne: une application de la thèse de Feldstein-Horioka Author info | Abstract | Publisher info | Download info | Related research | Statistics João Sousa Andrade () (GEMF and Faculdade de Economia, Universidade de Coimbra)
Additional information is available for the following
registered author(s):
The Feldstein-Horioka thesis was considered one of the greatest puzzles in economics. Born to measure international capital mobility, has known a process of immunisation to be conformed to empirical evidence and respect econometric knowledge. We apply to EU countries a formulation of the thesis which is adequate to test external sustainability and international capital mobility. Applying appropriate methods we conclude for the external sustainability of enlarged Europe as well as for high level of capital mobility. The capital mobility is more important for the old EU than for the enlarged one.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by GEMF - Faculdade de Economia, Universidade de Coimbra in its series GEMF Working Papers with number
2007-05.
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Length: 24 pages
Date of creation: 2007Date of revision:
Handle: RePEc:gmf:wpaper:2007-05Contact details of provider: Postal: Av. Dias da Silva, 165, 3004-512 COIMBRA Fax: +351 239 403511 Email: Web page: http://gemf.fe.uc.pt/index_en.htm More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Carlos Carreira).
Keywords: Feldstein-Horioka ; Mobilité du Capital ; Épargne ; Investissement ; Contrainte extérieure ; Other versions of this item:
Find related papers by JEL classification: E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
This paper has been announced in the following NEP Reports :
References listed on IDEAS 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.: Maurice Obstfeld & Kenneth Rogoff, 2000.
"The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? ,"
NBER Working Papers
7777, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Maurice Obstfeld & Kenneth Rogoff, 2001.
"The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? ,"
International Trade
0012003, EconWPA.
[Downloadable!] Maurice Obstfeld and Kenneth Rogoff., 2000.
"The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? ,"
Center for International and Development Economics Research (CIDER) Working Papers
C00-112, University of California at Berkeley.
[Downloadable!] Maurice Obstfeld & Kenneth Rogoff, 2000.
"The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? ,"
Center for International and Development Economics Research, Working Paper Series
1010, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
[Downloadable!] Maurice Obstfeld & Kenneth Rogoff, 2001.
"The Six Major Puzzles in International Macroeconomics: Is There a Common Cause? ,"
NBER Chapters ,
in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412
National Bureau of Economic Research, Inc.
[Downloadable!] Arellano, Manuel & Bond, Stephen, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 58(2), pages 277-97, April.
[Downloadable!] (restricted)
Jansen, W.J. & Schulze, G.G., 1993.
"Theory-Based Measurement of the Saving-Investment Correlation with an Application to Norway ,"
Papers
9302-g, Erasmus University of Rotterdam - Institute for Economic Research.
Other versions: Ho, Tsung-Wu, 2003.
"The saving-retention coefficient and country-size: The Feldstein-Horioka puzzle reconsidered ,"
Journal of Macroeconomics ,
Elsevier, vol. 25(3), pages 387-396, September.
[Downloadable!] (restricted)
Lawrence G. Goldberg & James R. Lothian & John Okunev, 2003.
"Has International Financial Integration Increased? ,"
International Finance
0311004, EconWPA.
[Downloadable!]
Other versions:
Lawrence G. Goldberg & James R. Lothian & John Okunev, 1997.
"Has International Financial Integration Increased? ,"
New York University, Leonard N. Stern School Finance Department Working Paper Seires
98-040, New York University, Leonard N. Stern School of Business-.
Lawrence Goldberg & James Lothian & John Okunev, 2003.
"Has International Financial Integration Increased? ,"
Open Economies Review ,
Springer, vol. 14(3), pages 299-317, July.
[Downloadable!] (restricted) Pierre-Richard AgÈnor, 2003.
"Benefits and Costs of International Financial Integration: Theory and Facts ,"
The World Economy ,
Blackwell Publishing, vol. 26(8), pages 1089-1118, 08.
[Downloadable!] (restricted)
Other versions: Coakley, Jerry & Kulasi, Farida & Smith, Ron, 1996.
"Current Account Solvency and the Feldstein-Horioka Puzzle ,"
Economic Journal ,
Royal Economic Society, vol. 106(436), pages 620-27, May.
[Downloadable!] (restricted)
Mamingi, Nlandu, 1997.
"Saving-investment correlations and capital mobility: The experience of developing countries ,"
Journal of Policy Modeling ,
Elsevier, vol. 19(6), pages 605-626, December.
[Downloadable!] (restricted)
Frankel, Jeffrey A, 1992.
"Measuring International Capital Mobility: A Review ,"
American Economic Review ,
American Economic Association, vol. 82(2), pages 197-202, May.
[Downloadable!] (restricted)
Saikkonen, Pentti, 1991.
"Asymptotically Efficient Estimation of Cointegration Regressions ,"
Econometric Theory ,
Cambridge University Press, vol. 7(01), pages 1-21, March.
[Downloadable!]
Hogendorn, Christiaan, 1998.
"Capital Mobility in Historical Perspective ,"
Journal of Policy Modeling ,
Elsevier, vol. 20(2), pages 141-161, April.
[Downloadable!] (restricted)
Feldstein, Martin, 1983.
"Domestic saving and international capital movements in the long run and the short run ,"
European Economic Review ,
Elsevier, vol. 21(1-2), pages 129-151.
[Downloadable!] (restricted)
Other versions: Ozmen, Erdal & Parmaksiz, Kagan, 2003.
"Policy regime change and the Feldstein-Horioka puzzle: the UK evidence ,"
Journal of Policy Modeling ,
Elsevier, vol. 25(2), pages 137-149, February.
[Downloadable!] (restricted)
Daniel Levy, 1995.
"Investment-saving comovement under endogenous fiscal policy ,"
Open Economies Review ,
Springer, vol. 6(3), pages 237-254, July.
[Downloadable!] (restricted)
Other versions: Phillips, Peter C B & Hansen, Bruce E, 1990.
"Statistical Inference in Instrumental Variables Regression with I(1) Processes ,"
Review of Economic Studies ,
Blackwell Publishing, vol. 57(1), pages 99-125, January.
[Downloadable!] (restricted)
Jonathan Parker & Bruce Preston, 2002.
"Precautionary Saving and Consumption Fluctuations ,"
NBER Working Papers
9196, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Jonathan A. Parker & Bruce Preston, 2004.
"Precautionary Saving and Consumption Fluctuations ,"
Working Papers
140, Princeton University, Woodrow Wilson School of Public and International Affairs, Discussion Papers in Economics..
[Downloadable!] Jonathan A. Parker & Bruce Preston, 2005.
"Precautionary Saving and Consumption Fluctuations ,"
American Economic Review ,
American Economic Association, vol. 95(4), pages 1119-1143, September.
[Downloadable!] Tsoukis, C. & Alyousha, A., 2000.
"A Re-Examination of Saving - Investment Relationships: Cointegration, Causality and International Capital Mobility ,"
Papers
271, Universite de Nantes - Economie Internationale et de l'Entreprise.
Kaddour Hadri, 2000.
"Testing for stationarity in heterogeneous panel data ,"
Econometrics Journal ,
Royal Economic Society, vol. 3(2), pages 148-161.
Other versions: Edison, Hali J. & Levine, Ross & Ricci, Luca & Slok, Torsten, 2002.
"International financial integration and economic growth ,"
Journal of International Money and Finance ,
Elsevier, vol. 21(6), pages 749-776, November.
[Downloadable!] (restricted)
Other versions: Coakley, Jerry & Hasan, Farida & Smith, Ron, 1999.
"Saving, Investment, and Capital Mobility in LDCs ,"
Review of International Economics ,
Blackwell Publishing, vol. 7(4), pages 632-40, November.
Other versions: M Pesaran & Yongcheol Shin & Ron P Smith, 2004.
"Pooled mean group estimation of dynamic heterogeneous panels ,"
ESE Discussion Papers
16, Edinburgh School of Economics, University of Edinburgh.
[Downloadable!]
Alan M. Taylor, 2002.
"A Century of Current Account Dynamics ,"
NBER Working Papers
8927, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Obstfeld, Maurice, 1986.
"Capital mobility in the world economy: Theory and measurement ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 24(1), pages 55-103, January.
[Downloadable!] (restricted)
Other versions: Tsung-wu Ho, 2002.
"A panel cointegration approach to the investment-saving correlation ,"
Empirical Economics ,
Springer, vol. 27(1), pages 91-100.
[Downloadable!] (restricted)
Stock, James H & Watson, Mark W, 1993.
"A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems ,"
Econometrica ,
Econometric Society, vol. 61(4), pages 783-820, July.
[Downloadable!] (restricted)
Other versions: Pedroni, Peter, 1999.
" Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors ,"
Oxford Bulletin of Economics and Statistics ,
Department of Economics, University of Oxford, vol. 61(0), pages 653-70, Special I.
[Downloadable!] (restricted)
Olivier Blanchard & Francesco Giavazzi, 2002.
"Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle? ,"
Brookings Papers on Economic Activity ,
Economic Studies Program, The Brookings Institution, vol. 33(2002-2), pages 147-210.
[Downloadable!]
Tesar, Linda L., 1991.
"Savings, investment and international capital flows ,"
Journal of International Economics ,
Elsevier, vol. 31(1-2), pages 55-78, August.
[Downloadable!] (restricted)
Other versions:
Tesar, L.L., 1988.
"Savings, Investment And International Capital Flows ,"
Papers
64, Brookings Institution - Working Papers.
Tesar, L.L., 1988.
"Savings, Investment And International Capital Flows ,"
RCER Working Papers
154, University of Rochester - Center for Economic Research (RCER).
Jos Jansen, W, 1996.
"Estimating saving-investment correlations: evidence for OECD countries based on an error correction model ,"
Journal of International Money and Finance ,
Elsevier, vol. 15(5), pages 749-781, October.
[Downloadable!] (restricted)
Kim, Hongkee & Oh, Keun-Yeob & Jeong, Chan-Woo, 2005.
"Panel cointegration results on international capital mobility in Asian economies ,"
Journal of International Money and Finance ,
Elsevier, vol. 24(1), pages 71-82, February.
[Downloadable!] (restricted)
Jerry Coakley & Ana-Maria Fuertes & Fabio Spagnolo, 2004.
"Is the Feldstein-Horioka Puzzle History? ,"
Manchester School ,
University of Manchester, vol. 72(5), pages 569-590, 09.
[Downloadable!] (restricted)
Bassam Fattouh, 2005.
"Capital mobility and sustainability: Evidence from U.S. current account data ,"
Empirical Economics ,
Springer, vol. 30(1), pages 245-253, 01.
[Downloadable!] (restricted)
Alan M. Taylor, 1996.
"International Capital Mobility in History: The Saving-Investment Relationship ,"
NBER Working Papers
5743, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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.
[Downloadable!] (restricted)
Moreno, Ramon, 1997.
"Saving-investment dynamics and capital mobility in the US and Japan ,"
Journal of International Money and Finance ,
Elsevier, vol. 16(6), pages 837-863, December.
[Downloadable!] (restricted)
Other versions: Kimball, Miles S, 1990.
"Precautionary Saving in the Small and in the Large ,"
Econometrica ,
Econometric Society, vol. 58(1), pages 53-73, January.
[Downloadable!] (restricted)
Other versions: Jansen, W. Jos, 2000.
"International capital mobility: evidence from panel data ,"
Journal of International Money and Finance ,
Elsevier, vol. 19(4), pages 507-511, August.
[Downloadable!] (restricted)
Other versions: Anindya Banerjee & Paolo Zanghieri, 2003.
"A New Look at the Feldstein-Horioka Puzzle using an Integrated Panel ,"
Working Papers
2003-22, CEPII research center.
[Downloadable!]
James E. Payne & Risa Kumazawa, 2006.
"Capital Mobility And The Feldstein-Horioka Puzzle: Re-Examination Of Less Developed Countries ,"
Manchester School ,
University of Manchester, vol. 74(5), pages 610-616, 09.
[Downloadable!] (restricted)
Murphy, Robert G., 1986.
"Productivity shocks, non-traded goods and optimal capital accumulation ,"
European Economic Review ,
Elsevier, vol. 30(5), pages 1081-1095, October.
[Downloadable!] (restricted)
Jansen, W. Jos, 1997.
"Can the intertemporal budget constraint explain the Feldstein-Horioka puzzle? ,"
Economics Letters ,
Elsevier, vol. 56(1), pages 77-83, September.
[Downloadable!] (restricted)
Chihwa Kao & Min-Hsien Chiang, 1999.
"On the Estimation and Inference of a Cointegrated Regression in Panel Data ,"
Center for Policy Research Working Papers
2, Center for Policy Research, Maxwell School, Syracuse University.
[Downloadable!]
Other versions: Coakley, Jerry & Kulasi, Farida & Smith, Ron, 1998.
"The Feldstein-Horioka Puzzle and Capital Mobility: A Review ,"
International Journal of Finance & Economics ,
John Wiley & Sons, Ltd., vol. 3(2), pages 169-88, April.
[Downloadable!] (restricted)
Pasaran, M.H. & Im, K.S. & Shin, Y., 1995.
"Testing for Unit Roots in Heterogeneous Panels ,"
Cambridge Working Papers in Economics
9526, Faculty of Economics, University of Cambridge.
Other versions:
Full
references
Access and
download statistics Did you know? Authors registered on the RePEc Author Service receive monthly emails with details about downloads and abstract views of their works.
This page was last updated on 2009-11-16.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .