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L’Intégration Européenne et la Soutenabilité Externe de l’Union Européenne: une application de la thèse de Feldstein-Horioka

  • João Sousa Andrade

    ()

    (GEMF and Faculdade de Economia, Universidade de Coimbra)

The Feldstein-Horioka thesis was considered one of the greatest puzzles in economics. Born to measure international capital mobility, has known a process of immunisation to be conformed to empirical evidence and respect econometric knowledge. We apply to EU countries a formulation of the thesis which is adequate to test external sustainability and international capital mobility. Applying appropriate methods we conclude for the external sustainability of enlarged Europe as well as for high level of capital mobility. The capital mobility is more important for the old EU than for the enlarged one.

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Paper provided by GEMF - Faculdade de Economia, Universidade de Coimbra in its series GEMF Working Papers with number 2007-05.

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Length: 24 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Transition Studies Review 15(1): 21-36, 2008
Handle: RePEc:gmf:wpaper:2007-05
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