The Feldstein-Horioka puzzle revisited
This article corroborate the evidence that the Feldstein-Horioka test do not reflect capital mobility in the real side of economics, but just the variability between external and domestic saving.
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- 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.
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