Fujiki, Hiroshi; Kitamura, Yukinobu - Institute of Economic Research, Hitotsubashi University - 1994
A central concern in the field of international finance is always capital mobility. Feldstein-Horioka(1980) propose a simple test for international capital mobility and obtain a sign of very low capital mobility. Their interesting result is often described as the Feldstein-Horioka paradox. This...