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An Appraisal of the International Saving¬ Investment Relation


  • Panos, Panos

    () (University of Calgary, Department of Economics)


International capital mobility as a resource allocation issue has been extensively researched. Different methods and statistical approaches have been employed, with most of the findings showing a tendency of savings to remain in the country of origin. Some contradictions were the inevitable result of the continuous evolution of countries toward economic integration in the process of convergence. Some of the theoretical models that try to explain high correlations between saving and investment in the presence of large capital mobility can be criticized. Whether truly stylized facts emerge from such correlations is not well established, nor is it possible to speculate on the issue if the world economy is organized along perfectly competitive lines.

Suggested Citation

  • Panos, Panos, 2000. "An Appraisal of the International Saving¬ Investment Relation," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 53(1), pages 1-14.
  • Handle: RePEc:ris:ecoint:0252

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    References listed on IDEAS

    1. Eichengreen, Barry & Rose, Andrew K & Wyplosz, Charles, 1996. "Contagious Currency Crises," CEPR Discussion Papers 1453, C.E.P.R. Discussion Papers.
    2. Graciela Kaminsky & Saul Lizondo & Carmen M. Reinhart, 1998. "Leading Indicators of Currency Crises," IMF Staff Papers, Palgrave Macmillan, vol. 45(1), pages 1-48, March.
    3. Obstfeld, Maurice, 1986. "Rational and Self-fulfilling Balance-of-Payments Crises," American Economic Review, American Economic Association, vol. 76(1), pages 72-81, March.
    4. Paul R Masson, 1998. "Contagion; Monsoonal Effects, Spillovers, and Jumps Between Multiple Equilibria," IMF Working Papers 98/142, International Monetary Fund.
    5. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
    6. Frankel, Jeffrey A. & Rose, Andrew K., 1996. "Currency crashes in emerging markets: An empirical treatment," Journal of International Economics, Elsevier, vol. 41(3-4), pages 351-366, November.
    7. van der Ploeg, Frederick, 1989. "The Political Economy of Overvaluation," Economic Journal, Royal Economic Society, vol. 99(397), pages 850-855, September.
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    More about this item

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F20 - International Economics - - International Factor Movements and International Business - - - General


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