The saving-retention coefficient and country-size: The Feldstein-Horioka puzzle reconsidered

Tsung Wu Ho

doi:10.1016/S0164-0704(03)00044-2

The saving-retention coefficient and country-size: The Feldstein-Horioka puzzle reconsidered

Tsung Wu Ho^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

39 Citations (Scopus)

Abstract

Baxter and Crucini [Am. Economic Rev. 83 (1993) 416] propose a country-size argument to explain the Feldstein-Horioka puzzle. This paper augments the empirical literature by examining the threshold effect of country-size, measured by relative GNP share, on the magnitude of saving-retention coefficient. Evidence from a panel of 23 OECD countries indicates that the saving-retention coefficient increase as the relative GNP share becomes larger, which substantially supports the country-size argument.

Original language	English
Pages (from-to)	387-396
Number of pages	10
Journal	Journal of Macroeconomics
Volume	25
Issue number	3
DOIs	https://doi.org/10.1016/S0164-0704(03)00044-2
Publication status	Published - 2003 Sept
Externally published	Yes

Keywords

Country-size
Saving-retention coefficients
Thresholds

ASJC Scopus subject areas

Economics and Econometrics

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10.1016/S0164-0704(03)00044-2

Cite this

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abstract = "Baxter and Crucini [Am. Economic Rev. 83 (1993) 416] propose a country-size argument to explain the Feldstein-Horioka puzzle. This paper augments the empirical literature by examining the threshold effect of country-size, measured by relative GNP share, on the magnitude of saving-retention coefficient. Evidence from a panel of 23 OECD countries indicates that the saving-retention coefficient increase as the relative GNP share becomes larger, which substantially supports the country-size argument.",

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AB - Baxter and Crucini [Am. Economic Rev. 83 (1993) 416] propose a country-size argument to explain the Feldstein-Horioka puzzle. This paper augments the empirical literature by examining the threshold effect of country-size, measured by relative GNP share, on the magnitude of saving-retention coefficient. Evidence from a panel of 23 OECD countries indicates that the saving-retention coefficient increase as the relative GNP share becomes larger, which substantially supports the country-size argument.

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KW - Saving-retention coefficients

KW - Thresholds

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The saving-retention coefficient and country-size: The Feldstein-Horioka puzzle reconsidered

Abstract

Keywords

ASJC Scopus subject areas

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