International capital mobility: a re-visit of Feldstein-Horioka puzzle
This paper investigates the status of international capital mobility by reexamining the Felstein-Horioka (1980) puzzle. Data on savings and investment of 51 high-income countries were analyzed using System-GMM of Arellano and Bovver (1995)/ Blundell and Bond (1998). The β of a saving-retention coeff...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
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Faculty of Economics and Management, Universiti Putra Malaysia
2012
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| Online Access: | http://psasir.upm.edu.my/id/eprint/51273/ http://psasir.upm.edu.my/id/eprint/51273/1/12-23.pdf |
| _version_ | 1848851787751096320 |
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| author | Hassan, Ibrahim Bakari Mohamed, Azali |
| author_facet | Hassan, Ibrahim Bakari Mohamed, Azali |
| author_sort | Hassan, Ibrahim Bakari |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This paper investigates the status of international capital mobility by reexamining the Felstein-Horioka (1980) puzzle. Data on savings and investment of 51 high-income countries were analyzed using System-GMM of Arellano and Bovver (1995)/ Blundell and Bond (1998). The β of a saving-retention coefficient of the System-GMM reads 0.17 signifying low correlation between the saving and the investment. Contrary to the Felstein-Horioka findings, the result suggests high capital mobility across high-income economies. The study further recommends acknowledging the increasing interrelations among countries in modeling international capital mobility. |
| first_indexed | 2025-11-15T10:27:44Z |
| format | Conference or Workshop Item |
| id | upm-51273 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T10:27:44Z |
| publishDate | 2012 |
| publisher | Faculty of Economics and Management, Universiti Putra Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-512732017-04-03T07:44:35Z http://psasir.upm.edu.my/id/eprint/51273/ International capital mobility: a re-visit of Feldstein-Horioka puzzle Hassan, Ibrahim Bakari Mohamed, Azali This paper investigates the status of international capital mobility by reexamining the Felstein-Horioka (1980) puzzle. Data on savings and investment of 51 high-income countries were analyzed using System-GMM of Arellano and Bovver (1995)/ Blundell and Bond (1998). The β of a saving-retention coefficient of the System-GMM reads 0.17 signifying low correlation between the saving and the investment. Contrary to the Felstein-Horioka findings, the result suggests high capital mobility across high-income economies. The study further recommends acknowledging the increasing interrelations among countries in modeling international capital mobility. Faculty of Economics and Management, Universiti Putra Malaysia 2012 Conference or Workshop Item PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/51273/1/12-23.pdf Hassan, Ibrahim Bakari and Mohamed, Azali (2012) International capital mobility: a re-visit of Feldstein-Horioka puzzle. In: National Research & Innovation Conference for Graduate Students in Social Sciences (GS-NRIC 2012), 7-9 Dec. 2012, Mahkota Hotel, Melaka. (pp. 435-444). |
| spellingShingle | Hassan, Ibrahim Bakari Mohamed, Azali International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title | International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title_full | International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title_fullStr | International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title_full_unstemmed | International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title_short | International capital mobility: a re-visit of Feldstein-Horioka puzzle |
| title_sort | international capital mobility: a re-visit of feldstein-horioka puzzle |
| url | http://psasir.upm.edu.my/id/eprint/51273/ http://psasir.upm.edu.my/id/eprint/51273/1/12-23.pdf |