investment move closely together in the major OECD countries. This finding is a puzzle if national economies are characterized by one sector neoclassical production functions—with diminishing returns to capital, a high level of savings in a country should create an incentive to export capital. In this paper, we show that this incentive disappears in the presence of multiple sectors with differing capital intensities. In a high saving country, national capital can be absorbed domestically without a decline in its marginal product through a shift in the sectoral composition of national production towards capital intensive sectors. This is nothing but the well-known Rybczynski effect. We present a modified version of the standard Heckscher–Ohl...
This study examines the international trade of developed countries with the Heckscher–Ohlin–Vanek (H...
The closed economy neoclassical model predicts lung-run convergence in per-capita income. We show, w...
Feldstein and Horioka upset conventional wisdom in 1980 when they con-cluded that changes in countri...
This paper attempts to integrate the theory of trade with that of capital movements, and to study th...
The degree of integration to the international capital markets is a crucial issue for the economic p...
The Heckscher-Ohlin-Vanek (HOV) model allows us to analyze whether countries specialize in particula...
This paper reviews how economists responded to the Feldstein–Horioka (FH) view that a high saving‐in...
The degree of integration to the international capital markets is a crucial issue for the economic p...
This study aims to shed light on the Feldstein-Horioka (F-H) puzzle, making use of the potential exp...
The finding of Feldstein and Horioka (1980) that countriesf investment rates are highly correlated w...
This paper reexamines the status of international capital mobility under the Feldstein-Horioka (1980...
We propose a pairwise procedure to test the Feldstein–Horioka condition of capital mobility. In cont...
This study aims to shed light on the Feldstein-Horioka (F-H) puzzle, making use of the potential ex...
This paper determines the degree of capital mobility and saving- investment association by using the...
Feldstein-Horioka hypothesis states that if there is perfect capital mobility, low correlation betwe...
This study examines the international trade of developed countries with the Heckscher–Ohlin–Vanek (H...
The closed economy neoclassical model predicts lung-run convergence in per-capita income. We show, w...
Feldstein and Horioka upset conventional wisdom in 1980 when they con-cluded that changes in countri...
This paper attempts to integrate the theory of trade with that of capital movements, and to study th...
The degree of integration to the international capital markets is a crucial issue for the economic p...
The Heckscher-Ohlin-Vanek (HOV) model allows us to analyze whether countries specialize in particula...
This paper reviews how economists responded to the Feldstein–Horioka (FH) view that a high saving‐in...
The degree of integration to the international capital markets is a crucial issue for the economic p...
This study aims to shed light on the Feldstein-Horioka (F-H) puzzle, making use of the potential exp...
The finding of Feldstein and Horioka (1980) that countriesf investment rates are highly correlated w...
This paper reexamines the status of international capital mobility under the Feldstein-Horioka (1980...
We propose a pairwise procedure to test the Feldstein–Horioka condition of capital mobility. In cont...
This study aims to shed light on the Feldstein-Horioka (F-H) puzzle, making use of the potential ex...
This paper determines the degree of capital mobility and saving- investment association by using the...
Feldstein-Horioka hypothesis states that if there is perfect capital mobility, low correlation betwe...
This study examines the international trade of developed countries with the Heckscher–Ohlin–Vanek (H...
The closed economy neoclassical model predicts lung-run convergence in per-capita income. We show, w...
Feldstein and Horioka upset conventional wisdom in 1980 when they con-cluded that changes in countri...