A Note On Human Capital And The Feldstein-Horioka Puzzle
In this paper we re-examine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e. including human capital) of investment and saving. We find that the decline in the economic significance of the Feldstein-Horioka result, found in studies using more recent data, holds also for our broader definition of saving and investment. Copyright � 2009 The Authors. Journal compilation � 2009 Blackwell Publishing Ltd and The University of Manchester.
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Volume (Year): 77 (2009)
Issue (Month): 3 (06)
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