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Capital Mobility in the World Economy: Theory and Measurement

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  • Maurice Obstfeld

Abstract

This paper is a critical assessment of some recent empirical evidence on the extent of international capital mobility. Its major conclusion is that while much of this evidence is difficult to interpret without ambiguity, it is consistent with a world economy in which the degree of capital mobility is high and increasing. Two main approaches to the measurement of capital mobility are discussed. The first, traditional, approach is based on comparing expected yields on assets located in different countries. The second,and more novel, approach is based on comparing national saving rates and domestic investment rates.

Suggested Citation

  • Maurice Obstfeld, 1985. "Capital Mobility in the World Economy: Theory and Measurement," NBER Working Papers 1692, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:1692
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    1. Anonymous, 1949. "International Monetary Fund," International Organization, Cambridge University Press, vol. 3(4), pages 714-717, November.
    2. Anonymous, 1949. "International Monetary Fund," International Organization, Cambridge University Press, vol. 3(2), pages 349-350, May.
    3. Anonymous, 1949. "International Monetary Fund," International Organization, Cambridge University Press, vol. 3(1), pages 154-156, February.
    4. Anonymous, 1949. "International Monetary Fund," International Organization, Cambridge University Press, vol. 3(3), pages 536-538, August.
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