TY  - GEN
T1  - International capital mobility: a re-visit of Feldstein-Horioka puzzle
A1  - Hassan, Ibrahim Bakari
LA  - English
PB  - Faculty of Economics and Management, Universiti Putra Malaysia
YR  - 2012
UL  - http://discoverylib.upm.edu.my/discovery/Record/oai:psasir.upm.edu.my:51273
AB  - 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.
ER  -