Kool, Clemens J. M.; Keijzer, Linda M. - In: Cambridge Journal of Regions, Economy and Society 2 (2009) 2, pp. 211-227
We revisit the Feldstein--Horioka (FH) puzzle using data for 23 Organisation for Economic Co-operation and Development (OECD) countries for the period 1973--2003. We document a sharp decline in the FH coefficient from the mid-1990s onward, supporting the hypothesis of increased economic and...