Investment-Saving Correlations and International Capital Mobility (notice n° 207349)
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|---|---|
| fixed length control field | 01968cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112052651.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Berdot, Jean-Pierre |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Investment-Saving Correlations and International Capital Mobility |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2003.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 33 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | According to conventional wisdom, international capital mobility has increased significantly over the last twenty years due to financial globalization. Surprisingly, the empirical work carried out by Feldstein-Horioka and most subsequent research fails to confirm this increase in capital mobility. However, when econometric results are reconsidered, new evidence appears which challenges the usual empirical findings. Feldstein-Horioka-related regressions suggest that international mobility has actually increased in the long run, and moreover that the early 1980s saw an acceleration in this upward trend. This is the case for all industrialized countries, whatever their size. Nevertheless, for emerging countries saving and investment rates are still highly correlated. Taken as a whole, a lower investment-saving correlation is related to higher independence of international capital flows with respect to domestic savings. We find that the linear relationship between investment and savings rates hinges on a pivotal point, which is the global saving rate. This criterion makes it possible to classify countries according to their respective situations. Thus, it appears that countries have not benefited equally from the liberalization of financial markets. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | capital flows |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | globalisation |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | financial integration. |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Kébabdjian, Gérard |
| Relator term | author |
| 700 10 - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Léonard, Jacques |
| Relator term | author |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Recherches économiques de Louvain | 69 | 1 | 2003-03-01 | p. 5-39 | 0770-4518 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-recherches-economiques-de-louvain-2003-1-page-5?lang=en">https://shs.cairn.info/journal-recherches-economiques-de-louvain-2003-1-page-5?lang=en</a> |
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