期刊
ECONOMIC MODELLING
卷 25, 期 2, 页码 284-299出版社
ELSEVIER
DOI: 10.1016/j.econmod.2007.06.008
关键词
Feldstein Horioka puzzle; panel smooth threshold regression models; saving-investment association; capital mobility
类别
This paper proposes an original framework to determine the relative influence of five factors on the Feldstein and Horioka result of OECD countries with a strong saving-investment association. Based on panel threshold regression models, we establish country-specific and time-specific saving retention coefficients for 24 OECD countries over the period 1960-2000. These coefficients are assumed to change smoothly, as a function of five threshold variables, considered as the most important in the literature devoted to the Feldstein and Horioka puzzle. The results show that; degree of openness, country size and current account to GDP ratios have the greatest influence on the investment-saving relationship. (C) 2007 Elsevier B.V. All fights reserved.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据