Naslov
Testing the Feldstein-Horioka puzzle in the CEE countries

Autori
Kersan-Škabić, Ines

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 8th International Conference on Currency, Banking and International Finance. The role of financial sector in supporting the economic recovery of CEE countries / Horvatova, Eva and Kotlebova, Jana - Bratislava : EKONOM, University of Economics in Bratislava, Slovak Republic, 2014, 178-188

ISBN
978-80-225-4034-6

Skup
8th International Conference on Currency, Banking and International Finance The Role of Financial Sector in Supporting the Economic Recovery of CEE Countries

Mjesto i datum
Bratislava, Slovačka, 10.09.2014. - 11.09.2014

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
FH coefficient; CEE countries; capital mobility

Sažetak
In transition and post-transion period the Central and Southeast European (CEE and SEE) countries have based their development largely on the inflows of foreign capital. The capital mobility in the last twenty years became very liberalized especially in the EU common market. One of the six puzzles in international macroeconomics, the Feldstein-Horioka (FH) puzzle, says that capital market is not perfect and there is a lack of full capital mobility. The goal of this paper is to find out if there is an evidence of FH puzzle in CEE and SEE region or this puzzle is disappeared. By applying panel data analysis (static and dynamic) we found low level of ß, which means that majority of investment in the CEE region, come from the abroad (and that capital is highly mobile). We also identified that GDP growth rate and net inflows of FDI have positive and significant impact on the level of investments ; while population growth and productivity have negative impact.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA