National Savings and Domestic Investment in the Long Run: Some Time Series Evidence for the U.S. and Canada

Glenn Otto and Tony Wirjanto ()

Working Paper from Economics Department, Queen's University

Abstract: An empirical puzzle in international finance is the finding of a high correlation between national savings and domestic investment. This result is widely interpreted as evidence of low international capital mobility. This paper examines the long run behaviour of national savings and domestic investment for the United States and Canada in a time series context, by testing for evidence of cointegration between the two series. We find little evidence of a cointegrating relationship, except for Canada during the Bretton Woods era.

Pages: 19 pages
Date: 1989
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:754

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