Saving, investment, and capital mobility among OECD countries

Lori Leachman

Open Economies Review, 1991, vol. 2, issue 2, 137-163

Abstract: Historically investigations of the international mobility of capital have studied rates of return on similar assets denominated in different currencies. Recently, however, efforts directed at ascertaining the degree of international capital mobility have examined the relationship between domestic saving and investment rates. The first approach assesses the mobility of groups of financial assets which represent the existing capital stock while the latter actually scrutinizes the mobility of new physical capital. This paper employs the second approach in a times series study of capital mobility among OECD countries. Implementation of four different tests of the saving-investment relationship suggest that physical capital is more mobile than previous studies have indicated. Copyright Kluwer Academic Publishers 1991

Keywords: capital mobility; market integration; saving; investment (search for similar items in EconPapers)
Date: 1991
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DOI: 10.1007/BF01886897

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