Paradoja Feldstein-Horioka: el caso de México (1950-2007)
Víctor-Hugo Alcalá Ríos,
Manuel Gómez-Zaldívar and
Additional contact information
Víctor-Hugo Alcalá Ríos: Universidad de Guanajuato
Estudios Económicos, 2011, vol. 26, issue 2, 293-313
The Feldstein-Horioka Paradox is an empirical regularity that calls into question the validity of the assumption about perfect capital mobility. We study the savings-investment relationship in Mexico from 1950 to 2007 by means of a cointegration analysis that allows for structural breaks. The results suggest that there was not capital mobility until 1982. This coincides with the international debt crisis and is in the midst of the liberalization process of the capital flows. Evidence suggests that there was a strong savings-investment relationship until 1982, but it weakened afterwards. This evidence is contrary to the aforementioned Paradox.
Keywords: Feldstein-Horioka Paradox; cointegration; structural changes (search for similar items in EconPapers)
JEL-codes: C12 C22 F21 F32 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:26:y:2011:i:2:p:293-313
Access Statistics for this article
More articles in Estudios Económicos from El Colegio de México, Centro de Estudios Económicos Contact information at EDIRC.
Bibliographic data for series maintained by Ximena Varela ().