Revisiting the Feldstein-Horioka Hypothesis of savings, investment and capital mobility: evidence from 27 EU countries
AbstractThis paper is an attempt to estimate the magnitude of integration for capital mobility among EU economies for the time period 1991-2009. It has been empirically observed that there is strong evidence in favor of higher degree of capital mobility for many EU countries, especially at euro currency period and in euro zone. We conclude that short run and long run capital mobility test based on Feldstein-Horioka (F-H) estimation method is likely to provide a measure of EU capital mobility.]
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 39383.
Date of creation: 18 Feb 2010
Date of revision:
Publication status: Published in INTERNATIONAL JOURNAL OF ECONOMICS 1.4(2010): pp. 71-90
Savings; Investment; Capital Mobility and EU;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
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- Feldstein, Martin & Horioka, Charles, 1980.
"Domestic Saving and International Capital Flows,"
Royal Economic Society, vol. 90(358), pages 314-29, June.
- Krol, Robert, 1996. "International capital mobility: evidence from panel data," Journal of International Money and Finance, Elsevier, vol. 15(3), pages 467-474, June.
- Kollias, Christos & Mylonidis, Nikolaos & Paleologou, Suzanna-Maria, 2008. "The Feldstein-Horioka puzzle across EU members: Evidence from the ARDL bounds approach and panel data," International Review of Economics & Finance, Elsevier, vol. 17(3), pages 380-387.
- Dimitris Christopoulos, 2007. "A reassessment of the Feldstein-Horioka hypothesis of perfect capital mobility: evidence from historical data," Empirica, Springer, vol. 34(3), pages 273-280, July.
- Murphy, Robert G., 1984. "Capital mobility and the relationship between saving and investment rates in OECD countries," Journal of International Money and Finance, Elsevier, vol. 3(3), pages 327-342, December.
- W. Jansen, 1998. "Interpreting Saving-Investment Correlations," Open Economies Review, Springer, vol. 9(3), pages 207-219, July.
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