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International capital mobility: Evidence from panel cointegration tests

Authors
Publisher
Elsevier B.V.
Publication Date
Volume
99
Issue
2
Identifiers
DOI: 10.1016/j.econlet.2007.08.001
Keywords
  • Feldstein–Horioka Approach
  • Panel Unit Roots
  • Dols Panel Cointegration

Abstract

Abstract Panel cointegration techniques applied to pooled data for 50 developed and developing economies for the period 1970–2000 indicate that savings and investment are non-stationary and cointegrated, that there are marked differences in saving–retention ratios between different country groups, and that retention ratios have fallen.

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