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| Titel: |
Assessing International Capital Mobility in East Asian Economies: A Panel Error-Correction Approach |
| Auteur: |
Eng, Yoke-Kee Habibullah, Muzafar Shah |
| Verschenen in: |
Journal of the Asia Pacific economy |
| Paginering: | Jaargang 11 (2006) nr. 4 pagina's 411-423 |
| Jaar: |
2006-11 |
| Inhoud: |
This study assesses financial integration and the degree of international capital mobility in the East Asian region by analyzing the dynamics of national saving-investment relationships. Following the work of Pelgrin & Schich (2004), we interpret the close relationship between national saving and investment in the long run reflecting a solvency constraint and focus on the short term saving investment analysis relationship to assess the degree of capital mobility. Applying the panel error - correction technique proposed by Pesaran et al. (1999), our empirical results suggest that there exists a long-run relationship between saving and investment and that the short-run is driven by the extent of the gap between current and long-run equilibrium values. The low estimated values of the short-run coefficient of the changes in the saving rate signal some degree of capital mobility. |
| Uitgever: |
Routledge |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 1 van 9 gevonden artikelen
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