Jamilov, Rustam - In: Economic Systems 37 (2013) 2, pp. 155-170
, Azerbaijan, Georgia, Kazakhstan, Russia, and Turkey – and employ a panel cointegration approach. To that end, I make use of the …This paper examines the degree of capital mobility in the countries of the Caucasus. I estimate a simple model …, FMOLS, and PMG are 0.90, 0.73, and 0.83, respectively. These results suggest that capital mobility in the Caucasus is very …