International Capital Mobility: Evidence from Panel Data

Krol (1996) reports estimates of the saving-investment correlation, based on panel regressions, that are much lower than commonly found in the literature. This note argues that this low estimate is not related to the panel estimation technique, as Krol claims, but largely to the inclusion of Luxembourg in the sample. Panel estimation only reduces the correlation’s estimate by about 0.12.

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Year of publication:	2003-10-14
Authors:	Jansen, W. Jos
Institutions:	EconWPA
Subject:	capital mobility \| panel estimation \| saving investment correlation

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Extent:	application/pdf
Series:	International Finance.
Type of publication:	Book / Working Paper
Notes:	Type of Document - pdf; prepared on Win98; to print on HP, A4 page format; pages: 8; figures: included. Final version, October 1999 (Journal of International Money and Finance) 8 pages
Classification:	F32 - Current Account Adjustment; Short-Term Capital Movements ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005125535