-Horioka puzzle ; capital mobility ; capital flows ; saving ; investment ; Adam Smith ; invisible hand …

, which is that even though global financial markets appear to be integrated, levels of saving and investment are correlated …

investment rate on the domestic saving rate, the estimated coefficient is significantly larger than what would be expected in a … world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment and … saving series typically used in empirical exercises to test the Feldstein-Horioka thesis are not appropriate for testing …

, which is that even though global financial markets appear to be integrated, levels of saving and investment are correlated …

the relationship between domestic investment and saving: whatever the transition mechanism specified, each test strongly … countries (1960-2000), we test the influence of various threshold variables (degree of openness, size, demography) on the saving …

investment rate on the domestic saving rate, the estimated coefficient is significantly larger than what would be expected in a … investment, and domestic saving. This implies that the estimate of the coefficient of the saving rate in the Feldstein … world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment and …