The author estimates savings and investment correlations for 58 developing countries to assess the capital mobility (in the Feldstein-Horioka sense) in these countries. Using a new estimation technique (fully modified ordinary least squares) - which simultaneously corrects for serial correlation, endogeneity, and sample bias (asymptotically) - the author finds that many developing countries are financially integrated in the long run. More important...
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INFORMATION
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1993/10/31
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Document de travail de recherche sur les politiques
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WPS1211
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1
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1
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2010/07/01
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Savings investment correlations and capital mobility in developing countries
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capital mobility