Actions

Panoeconomicus
how to cite this article
share this article

Metrics

  • citations in SCIndeks: 0
  • citations in CrossRef:0
  • citations in Google Scholar:[]
  • visits in previous 30 days:1
  • full-text downloads in 30 days:1

Contents

article: 1 from 4  
Back back to result list
2007, vol. 54, iss. 1, pp. 53-67
Teza Feldstein-Horioka - jedna mera međunarodnog kretanja kapitala
(The title is not available in English)
GEMF - Faculdade de Economia - Universidade de Coimbra, Portugal

emailjasa@fe.uc.pt
Keywords: Feldstein-Horioka; kretanje kapitala; štednja; investicije; spoljni dug
Abstract
(not available in English)
U ovom radu predstavljena je Feldstein-Horioka teza (F-H) koja se odnosi na mobilnost kapitala i njegov razvoj. Reč je o tezi koja otvara mogućnosti opovrgavanja i ilustruje metodološke stavove Karla Popper-a: diskusije njenog opovrgavanja, ali ujedno i tendencije konsolidacije ("imunizacije"), u smislu Karla Popper-a, koji vode ka novim stavovima o kretanju kapitala (mobilnost kapitala). Ovi napori konsolidacije ("imunizacije") doveli su do toga da teza bude integrisana u nove metodologije ekonometrijske primene i da promeni njihovu objektivnost, mereći takođe spoljnu održivost. Teza F-H predstavlja jedan primer integracije teorijske i empirijske analize.
References
*** (1998) The Feldstein-Horioka puzzle and capital mobility: A review. International Journal of Finance and Economics, 3, str. 169-88
*** (1997) Can the inter-temporal budget constraint explain the Feldstein-Horioka puzzle?. Economics Letters, 56, str. 77-83
*** (2000) International capital mobility: Evidence from panel data. Journal of International Money and Finance, 19, str. 507-11
*** (1991) Quantifying international capital mobility in the 1980s. in: Bernheim B., Shoven J.B. [ed.] National saving and economic performance, Chicago: University of Chicago Press
*** (2003) Is the Feldstein-Horioka puzzle really a puzzle?. in: Agiomirgianakis i dr. [ed.] Advances in international economics and finance, London: Kluwer Academic Publishers
*** (2003) Policy regime change and the Feldstein-Horioka puzzle: The UK evidence. Journal of Policy Modeling, 25:2
*** (1991) Comment on D. Levy's investment-saving co-movement, capital mobility, and fiscal policy. in: NBER Conference on Macroeconomic Effects of Fiscal Policy, Cambridge, MA
*** (1994) International capital mobility in the 1990s. in: International Finance Discussion Papers, Board of Governors of the Federal reserve System
*** (2002) A century of current account dynamics. Journal of International Money and Finance, 21, str. 725-48
Agenor, P.R. (2003) Benefits and costs of international financial integration: Theory and facts. World Economy, 26:8
Alyousha, A., Tsoukis, C. (2003) A re-examination of saving-investment relationships: Co-integration, causality, and international capital mobility. in: Agiomirgianakis i dr. [ed.] Advances in international economics and finance, London: Kluwer Academic Publishers
Bai, J., Ng, S. (2004) A panic attack on unit roots and co-integration. Econometrica, 72:4, str. 1127-77
Banerjee, A., Marcellino, M., Osbat, C. (2003) Some cautions on the use of panel methods for integrated series of macro-economic data. European University Institute
Banerjee, A., Zanghieri, P. (2003) A new look at the Feldstein-Horioka puzzle using a integrated panel. CEPII, 22
Baxter, M., Crucini, M. (1993) Explaining saving-investment correlations. American Economic Review, 83, str. 416-36
Bayoumi, T., Macdonald, R. (1995) Consumption, income and international capital market integration. IMF Staff Papers, 42, str. 552-76
Bayoumi, T. (1990) Saving-investment correlations: Immobile capital, government policy, or endogenous behavior. IMF Staff Papers, 37:June, str. 360-87
Blanchard, O.J., Giavazzi, F. (2002) Current account deficits in the Euro Area: The end of the Feldstein-Horioka puzzle?. Brookings Papers in Economic Activity, 2, str. 147-86
Casella, A. (1992) On markets and clubs: Economic and political integration of regions with unequal productivity. American Economic Review, 82:2, str. 115-21
Chakrabarti, A. (2006) The saving-investment relationship revisited: New evidence from multivariate heterogeneous panel co-integration analyses. Journal of Comparative Economics, 34:2, str. 402-19
Coakley, J., Fuertes, A.M., Spagnolo, F. (2004) Is the Feldstein-Horioka puzzle history?. Manchester School, 72:5, str. 569-90
Coakley, J., Hasan, F., Smith, R. (1999) Saving, investment, and capital mobility in LDCs. Review of International Economics, 7:4
Coakley, J., Kulasi, F., Smith, R. (1996) Current account solvency and the Feldstein-Horioka puzzle. Economic Journal, 106:436, str. 620-7
Corbin, A. (2004) Capital mobility and adjustment of the current account imbalances: A bounds testing approach to co-integration in 12 countries, 1880-2001. International Journal of Finance and Economics, 9, str. 257-76
Debaere, P., Demiroglu, U. (1997) International saving, investment and trade. Discussion Paper: 406
Dooley, M., Frankel, J., Mathieson, D. (1987) International capital mobility: What do saving-investment correlations tell us?. IMF Staff Papers, 34:3, str. 503-30
Dornbusch, R. (1991) National saving and international investment: Comment. in: Bernheim B., Shoven J.B. [ed.] National saving and economic performance, Chicago: University of Chicago Press, str. 220-26
Edison, H., Ross, L., Luca, R., Torsten, S. (2002) International financial integration and economic growth. Journal of International Money and Finance, 21(6): 749
Fattouh, B. (2005) Capital mobility and sustainability: Evidence from US current account data. Empirical Economics, 30:1, str. 245-53
Feldstein, M. (1983) Domestic saving and international capital movements in the long run and the short run. European Economic Review, 30, str. 735-52
Feldstein, M.S., Bacchetta, P. (1991) Domestic saving and international investment. in: Bernheim B., Shoven J.B. [ed.] National saving and economic performance, Chicago: Chicago University Press
Feldstein, M.S., Horioka, Ch. (1980) Domestic saving and international capital flows. Economic Journal, vol. 90, str. 314-29
Feyerabend, P.K. (1993) Against the method: An outline of an anarchistic theory of perception. London-New York: Verso
Frankel, J. (1986) International capital mobility and crowding-out in the U.S. economy: Imperfect integration of financial markets or of goods markets?. in: Hafer R. [ed.] How open is the U.S. economy?, Lexington: Lexington Books, str. 33-67
Frankel, J., Macarthur, A. (1988) Political vs. currency premia in international real interest rate differentials. European Economic Review, 32, str. 1083-121
Frankel, J.A. (1993) Measuring international capital mobility: A review. American Economic Review, br. 2, str. 197-202
Georgopoulos, G., Hejazi, W. (2005) Feldstein-Horioka meets a time trend. Economic Letters, 86:3, str. 353-7
Goldberg, L., James, J., Okunev, J. (2003) Has international financial integration increased?. Open Economies Review, 14:3, str. 299-317
Haan, J., Siermann, C. (1994) Saving, investment and capital mobility: A comment on Leachman, 1991. Open Economies Review, 5, str. 5-17
Ho, T.W. (2002) A panel co-integration approach to the investment-saving correlation. Empirical Economics, 27:1, str. 91-100
Ho, T.W. (2003) The saving-retention coefficient and country-size: The Feldstein-Horioka puzzle reconsidered. Journal of Macroeconomics, 25:3
Hogendorn, C. (1998) Capital mobility in historical perspective. Journal of Policy Modeling, 20:2
Husted, S. (1992) The emerging U.S. current account deficit in the 1980s: A co-integration analysis. Review of Economics and Statistics, str. 159-66
Jansen, W. (1996) Estimating saving-investment correlations: Evidence for OECD countries based on an error correction model. Journal of International Money and Finance, 5, str. 749-81
Jansen, W., Schulze, G. (1996) Theory-based measurement of the saving-investment correlation with an application to Norway. Economic Inquiry, 34, str. 116-32
Kim, H., Oh, K.Y., Jeong, C.W. (2005) Panel co-integration results on international capital mobility in Asian economies. Journal of International Money and Finance, 24:1, str. 71-82
Kimball, M. (1990) Precautionary saving in the small and in the large. Econometrica, 58:1, str. 53-73
Koedijk, K., i dr. (2002) The cost of capital in international financial markets: Local or global?. Journal of International Money and Finance, 21:6
Krugman, P.R., Obstfeld, M. (1994) International economics: Theory and policy. London-New York: Harper Collins
Latsis, S. (1976) A research program in economics. in: Latsis S. [ed.] Methods and appraisal in economics, Cambridge: C.U.P, str. 1-41
Lemmen, J., Eijffinger, S. (1998) The quantity approach to financial integration: The Feldstein-Horioka criterion revisited. in: Lemmen J. [ed.] Integrating financial markets in the European Union, Cheltenham: Edward Elgar, (extended and updated version of the paper in Open Economics Review, vol. 6, N. 2, 1995, 145-65)
Levy, D. (1995) Investment-saving co-movement under endogenous fiscal policy. Open Economies Review, 6, str. 237-54
Mamingi, N. (1997) Saving-investment correlations and capital mobility: The experience of developing countries. Journal of Policy Modeling, 19:6, str. 605-16
Miller, S. (1988) Are saving and investment co-integrated?. Economics Letters, 27, str. 31-4
Mishkin, F. (1986) Commentary on international capital mobility and crowding-out in the U.S. economy: Imperfect integration of financial markets or of goods markets. Federal Reserve Bank of St. Louis Review, December
Moreno, R. (1997) Saving investment dynamics and capital mobility in the U.S. and Japan. Journal of International Money and Finance, 16, str. 837-63
Muller, P. (2004) European financial market integration. World Economics, 5:3
Murphy, R. (1986) Productivity shocks, non-traded goods and optimal capital accumulation. European Economic Review, 30, str. 1081-95
Obstfeld, M. (1986) Capital mobility in the world economy: Theory and measurement. in: Carnegie-Rochester Conference Series on Public Policy, Spring, str. 1-24
Obstfeld, M., Rogoff, K. (2000) The six major puzzles in international macroeconomics: Is there a common cause?. NBER Macroeconomics Annual, 339-390
Ozmen, E., Parmaksiz, K. (2003) Exchange rate regimes and the Feldstein-Horioka puzzle: The French evidence. Applied Economics, 35:2
Parker, J., Jonathan, A., Preston, B. (2002) Precautionary saving and consumption fluctuations. NBER, Working Paper, 9196
Payne, J., Kumazawa, R. (2006) Capital mobility and the Feldstein-Horioka puzzle: Re-examination of less developed countries. Manchester School, 74:5, str. 610- 6
Payne, J., Mohammadi, H. (2006) Capital mobility and savings-investment correlations: Panel data evidence from transition economies. Applied Economic Letters, 13:10, str. 611-3
Pomfret, R. (1998) Measuring the degree of capital mobility: What does the Feldstein-Horioka equation test?
Popper, H. (1990) International capital mobility: Direct evidence from long-term currency swaps. International Finance, Board of Governors, Federal Reserve System
Popper, K.R. (2002) Conjectures and refutations: The growth of scientific knowledge. London, itd: Routledge and Kegan Paul
Rocha, F., Zerbini, B. (2000) Using a panel structure to discuss the Feldstein-Horioka puzzle in developing countries. S. Paulo: Universidade de São Paulo
Sachs, J.D. (1981) The current account and macroeconomic adjustment in the 1980s. Brookings Papers on Economic Activity, br. 1, str. 201-268
Sachsida, A., Caetano, M. (2000) The Feldstein-Horioka puzzle revisited. Economics Letters, 68, str. 85-8
Sinn, S. (1992) Saving-investment correlations and capital mobility: On the evidence form annual data. Economic Journal, 102, str. 1171-83
Summers, L.H. (1988) Tax policy and international competitiveness. in: Frankel Jacob A. [ed.] International aspects of fiscal policies, Chicago, itd: University of Chicago Press, str. 349-86
Taylor, A.M. (1996) International capital mobility in history: The saving-investment relationship. NBER Working Paper, Working Paper, 5743
Tesar, L. (1991) Savings, investment, and international capital flows. Journal of International Economics, 31, str. 55-78
Tobin, J. (1983) Domestic savings and international capital movements in the long-run and short-run. European Economic Review, 21:March-April, str. 153-56
Verdier, G. (2003) What drives long-term capital flows? A theoretical and empirical investigation. Texas A&M University - Department of Economics
Westerlund, J. (2006) Testing for panel co-integration with multiple structural breaks. Oxford Bulletin of Economics and Statistics, 68:1, str. 101-32
Westphal, U. (1983) Comments on domestic saving and international capital movements in the short-run and in the long-run. European Economic Review, 21, str. 157-9
Wheatley, S. (1988) Some tests of international equity integration. Journal of Financial Economics, 21:2, str. 177-12
Wong, D. (1990) What do saving-investment relationships tell us about capital mobility?. Journal of International Money and Finance, 9, str. 60-74
 

About

article language: Portuguese
document type: Original Scientific Paper
DOI: 10.2298/PAN0701053D
published in SCIndeks: 03/12/2007

Related records

Panoeconomicus (2011)
An empirical investigation on the determinants of the saving-investment interaction
Gur Han Timur, et al.

Sociološki pregled (1995)
Paradigms and social influences on science
Sinđelić Svetozar

Panoeconomicus (2009)
Financial globalization: A reappraisal
Kose Ayhan M., et al.

show all [48]