摘要
This paper augments the empirical literature concerning the Feldstein-Horioka puzzle using non-stationary panel data. Recently developed tests for panel cointegration and panel unit root tests are employed. We find substantial evidence to support the hypothesis of no cointegration in this panel, implying a high degree of international capital mobility. Our results suggest that tests for cointegration in panel data provides a better methodological focus than the magnitude of saving-retention coefficients.
| 原文 | 英語 |
|---|---|
| 頁（從 - 到） | 91-100 |
| 頁數 | 10 |
| 期刊 | Empirical Economics |
| 卷 | 27 |
| 發行號 | 1 |
| DOIs | |
| 出版狀態 | 已發佈 - 2002 2月 |
| 對外發佈 | 是 |
ASJC Scopus subject areas
- 統計與概率
- 數學（雜項）
- 社會科學（雜項）
- 經濟學與計量經濟學