Revisit Feldstein-Horioka puzzle: evidence from Malaysia

The aim of this study is to re-visit the Feldstein and Horioka (1980) puzzle for Malaysia. The conventional bounds testing approach cannot show any evidence of cointegration between savings and investment. However, the result of our proposed rolling bounds test approach shows that the cointegrated relationship varied over time. In particular, the variables are cointegrated only prior to the Asian financial crisis and the Ringgit pegged regime in 1997/98.

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Year of publication:	2011
Authors:	Tang, Chor Foon ; Lean, Hooi Hooi
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 31.2011, 3, p. 2237-2249
Publisher:	AccessEcon
Subject:	Malaysia \| Rolling cointegration test \| Savings-investment nexus

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C1 - Econometric and Statistical Methods: General ; E2 - Consumption, Saving, Production, Employment, and Investment
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009225654