Is capital really mobile across the border?
The existing theories on capital mobility use either the saving-investment parity condition or the interest parity condition. The assumptions of balanced budget or purchasing power parity condition underlying these theories, however, are rarely met. This study, therefore develops a different approach called 'current account surplus saving surplus parity condition' to measure the degree of capital mobility and apply the model on US time series data. It is found that US capital is mobile internationally.
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Volume (Year): 13 (2006)
Issue (Month): 8 ()
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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.:
- Alan C. Stockman & Alejandro Hernandez D., 1985.
"Exchange Controls, Capital Controls, and International Financial Markets,"
NBER Working Papers
1755, National Bureau of Economic Research, Inc.
- Stockman, Alan C & Hernandez D, Alejandro, 1988. "Exchange Controls, Capital Controls, and International Financial Markets," American Economic Review, American Economic Association, vol. 78(3), pages 362-74, June.
- Feldstein, Martin & Horioka, Charles, 1980.
"Domestic Saving and International Capital Flows,"
Royal Economic Society, vol. 90(358), pages 314-29, June.
- Martin Feldstein & Philippe Bacchetta, 1991.
"National Saving and International Investment,"
in: National Saving and Economic Performance, pages 201-226
National Bureau of Economic Research, Inc.
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