Saving-Investment Relationship and Capital Mobility:Evidence from Chinese Provincial Data, 1980—2007
Panel data for individual Chinese provinces from 1980 to 2007 was used to estimate the saving-investment model used by Feldstein and Horioka (1980), shed light on changes to China's domestic capital mobility since the adoption of the Open Door Policy, and determine whether there has been any increase in mobility since 2000. High capital mobility was observed through the first half of the 1980s followed by low capital mobility during the 1990s. Capital mobility began to gradually increase again around 1996, reaching levels similar to those of other leading industrialized countries in the 2000s.
|Date of creation:||Sep 2009|
|Date of revision:|
|Publication status:||Published in Economics Bulletin 3.29(2009): pp. 1986-1994|
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- Martin Feldstein & Charles Horioka, 1979.
"Domestic Savings and International Capital Flows,"
NBER Working Papers
0310, National Bureau of Economic Research, Inc.
- Dekle, Robert, 1996.
"Saving-investment associations and capital mobility On the evidence from Japanese regional data,"
Journal of International Economics,
Elsevier, vol. 41(1-2), pages 53-72, August.
- Robert Dekle, 1995. "Saving-investment associations and capital mobility on the evidence from Japanese regional data," International Finance Discussion Papers 496, Board of Governors of the Federal Reserve System (U.S.).
- Shang-Jin Wei & Genevieve Boyreau-Debray, 2004. "Can China Grow Faster? A Diagnosis of the Fragmentation of Its Domestic Capital Market," IMF Working Papers 04/76, International Monetary Fund.
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