The saving investment relation: a panel data approach

Isabelle Cadoret

Applied Economics Letters, 2001, vol. 8, issue 8, 517-520

Abstract: Numerous studies have confirmed the initial 1980 finding of Feldstein and Horioka of a high positive correlation between saving and investment, a result that is difficult to reconcile with the increasing integration of financial markets. This current study re-examines the correlation between saving and investment with a panel data approach. The empirical analysis concerns 19 OECD countries over the period 1970-1998. Stability tests have led to the identification three periods: 1970-1980, 19817ndash;1990 and 1991-1998 and estimated results show that, when a country-specific effect is introduced, there is no correlation between private saving and national investment and that there is high correlation between public saving and investment.

Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:8:y:2001:i:8:p:517-520

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DOI: 10.1080/13504850010023107

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