Capital Mobility in Emerging Europe
EMERGING MARKETS FINANCE AND TRADE, cilt.49, ss.250-258, 2013 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 49
- Basım Tarihi: 2013
- Doi Numarası: 10.2753/ree1540-496x4905s515
- Dergi Adı: EMERGING MARKETS FINANCE AND TRADE
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.250-258
- Yıldız Teknik Üniversitesi Adresli: Evet
Özet
Panel cointegration methods are used to analyze the saving and investment relationships of the EU member countries; the degree of capital mobility is investigated by pooled mean group estimation. Results demonstrate that although saving and investment move together in the long run, there is also a moderate level of capital mobility in the short run, suggesting that the Feldstein-Horioka puzzle is not valid for these countries in the 1980-2012 period. Results differ in the subsamples of the European Union as the degree of capital mobility is higher in the eurozone countries and early members of the European Union.