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Saving-Investment Correlations : Immobile Capital. Government Policy or Endogenous Behavior?

International Monetary Fund - 1989

This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy

Persistent link: https://www.econbiz.de/10014396226

The Feldstein-Horioka Test of International Capital Mobility : Is it Feasible?

Jansen, Willem Jos - 1996

Feldstein and Horioka (1980) argued that the correlation of saving and investment in a cross-section of countries may provide a test of global capital mobility. This paper argues that neither the long-run nor the short-run correlation can serve as a reliable basis for such a test. The...

Persistent link: https://www.econbiz.de/10014398034

India’s Recent Macroeconomic Performance : An Assessment and Way Forward

Kapur, Muneesh - 2014

The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in...

Persistent link: https://www.econbiz.de/10014411209

Saving, Investment, Financial Integration, and the Balance of Payments

International Monetary Fund - 1989

This paper examines the extent of international financial integration, and its consequences for the current account. The evidence indicates that financial liberalization in the 1970s and 1980s has resulted in a substantial movement towards closer integration of world capital markets. By reducing...

Persistent link: https://www.econbiz.de/10014395900

Saving, Investment, and the Regional Current Account : An Analysis of Canadian, British, and German Regions

Thomas, Alun - 1993

The relationship between regional saving and investment is examined to measure the extent of capital mobility. The relationship between total regional saving and investment is significantly negative in Canada and the United Kingdom, in contrast to the significant positive relationship found...

Persistent link: https://www.econbiz.de/10014398181

India’s recent macroeconomic performance : an assessment and way forward

Kapur, Muneesh; Mohan, Rakesh - 2014

Persistent link: https://www.econbiz.de/10010388634

Reexamining the national savings-investment nexus across time and countries

David, Antonio C.; Gonçalves, Carlos Eduardo Soares; … - 2020

Domestic savings and investment are positively correlated across countries and through time, as Feldstein-Horioka (FH … relationship is causal: an exogenous rise in savings increases investment. This result holds in the full sample of countries and … endogeneity bias. The core of our identification strategy relies on the idea that population age structure influences savings, but …

Persistent link: https://www.econbiz.de/10012299319

What shapes current account adjustment during recessions?

Kolerus, Christina Elisabeth - 2021

This paper studies the dynamics of external accounts during 278 economic recession events in the past 60 years and sheds light on key factors that shape these patterns. Economic recessions trigger highly-persistent increases in the current account, driven by an initial, sharp decline in...

Persistent link: https://www.econbiz.de/10012605536

Developing Countries and the Feldstein-Horioka Puzzle

Wacziarg, Romain - 1998

The previous literature points to a high correlation between domestic rates of investment and savings among OECD … investment on the rate of domestic savings is statistically insignificant most of the time and generally smaller than 0.3 for any …

Persistent link: https://www.econbiz.de/10014400839

Financing of Global Imbalances

Punzi, Maria Teresa - 2007

This paper analyzes the determinants of bond flows, now the dominant source of capital inflows, into the United States, as a means of establishing conditions affecting the financing of the U.S. current account deficit. To test the hypothesis that capital flows have become more responsive to...

Persistent link: https://www.econbiz.de/10014401259