The domestic saving and investment correlation as posited by Feldstein and Horioka is revisited for Turkey and tested over the whole period (1950–2017) and the two subperiods (1950-1989 and 1990-2017). The time-series properties of the data and the presence of structural breaks are properly...

International capital flows to developing countries have taken on considerable policy importance in recent years. There is disagreement, however, about whether financial capital mobility has become so high that developing countries have little ability to sterilize capital flows. This paper...