A Note on Saving-Investment Correlations in the EMS
SSRN Electronic Journal
1990
- 662Usage
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Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
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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