CORRELAÇÃO POUPANÇA-INVESTIMENTO: INDICADOR DE MOBILIDADE DE CAPITAIS OU DE SOLVÊNCIA?

Fabiana Rocha and Maria Beatriz Zerbini

Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: The purpose of this paper is to use the literature which evaluates the external sustainability condition to evaluate the original equation of Feldstein and Horioka. We conclude that the saving-investment correlation calculated using cross-sectional data measures the solvency condition instead of the degree of capital mobility. Error-correction models could be an alternative to distinguish between the long-run correlation, which reflects solvency, and the short-run correlation which could measure capital mobility. Applying these models to a panel of 29 developing countries we obtain evidence of an intermediate degree of capital mobility.

JEL-codes: F2 F3 (search for similar items in EconPapers)
Date: 2004

Downloads: (external link)
http://www.anpec.org.br/encontro2004/artigos/A04A072.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:anp:en2004:072

Ordering information: This working paper can be ordered from
Secretaria da ANPEC Rua Tiradentes, 17 - Ingá Niterói, RJ 24210-510 Brazil

Access Statistics for this paper

More papers in Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32th Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics]
Address: Secretaria da ANPEC Rua Tiradentes, 17 - Ingá Niterói, RJ 24210-510 Brazil
Contact information at EDIRC.
Series data maintained by Hugo E. A. da Gama Cerqueira (). This e-mail address is bad, please contact .