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Role of foreign direct investment in estimating capital mobility: a reappraisal of Feldstein-Horioka puzzle

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  • Javed Younas

Abstract

As investment by nonresidents is not subject to inter-temporal budget constraint of the recipient country, it may not belong to Feldstein-Horioka equation. This article finds that capital mobility is remarkably high in both developed and developing countries when Foreign Direct Investment (FDI) is excluded from domestic investment. Moreover, economic openness and financial markets' liberalization are also found to have increased the degree of capital mobility.

Suggested Citation

  • Javed Younas, 2011. "Role of foreign direct investment in estimating capital mobility: a reappraisal of Feldstein-Horioka puzzle," Applied Economics Letters, Taylor & Francis Journals, vol. 18(12), pages 1133-1137.
  • Handle: RePEc:taf:apeclt:v:18:y:2011:i:12:p:1133-1137
    DOI: 10.1080/13504851.2010.526569
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    Cited by:

    1. Egbert, Henrik & Naqvi, Nadeem, 2011. "Market-dependent production set," MPRA Paper 33829, University Library of Munich, Germany.
    2. Annageldy Arazmuradov, 2012. "Foreign Aid, Foreign Direct Investment, and Domestic Investment Nexus in Landlocked Economies of Central Asia," Economic Research Guardian, Weissberg Publishing, vol. 2(1), pages 129-151, May.
    3. Ketenci, Natalya, 2018. "Impact of the Global Financial Crisis on the Level of Capital Mobility in EU Members," MPRA Paper 100075, University Library of Munich, Germany.

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