Capital Mobility in Emerging Europe


Taslaman C., KAYIKÇI F.

EMERGING MARKETS FINANCE AND TRADE, cilt.49, ss.250-258, 2013 (SSCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 49
  • Basım Tarihi: 2013
  • Doi Numarası: 10.2753/ree1540-496x4905s515
  • Dergi Adı: EMERGING MARKETS FINANCE AND TRADE
  • Sayfa Sayıları: ss.250-258

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.