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A Note on Saving-Investment Correlations in the EMS

SSRN Electronic Journal
1990
  • 0
    Citations
  • 662
    Usage
  • 0
    Captures
  • 0
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Usage
    662
    • Abstract Views
      582
    • Downloads
      80
  • Ratings
    • Download Rank
      626,541

Article Description

This paper extends recent work by Feldstein and Horioka (1980) and Bayoumi (1990), and examines saving-investment correlations for industrial countries in the post-war period. The focus of the enquiry is on differences observed between EMS and non-EMS countries. It is seen that the EMS countries exhibit much lower saving-investment correlations than their non-EMS counterparts. This result supports the hypothesis that exchange rate stability achieved in the EMS has been an important factor in promoting international capital mobility.

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