Saving, investment and international capital mobility in EC countries

• Autores: Isabel Argimón Maza, José María Roldán Alegre
• Localización: Documentos de trabajo - Banco de España, ISSN 0213-2710, Nº 10, 1991, págs. 1-60
• Idioma: inglés
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• Resumen

  • For the past fifteen years, capital movements have been increasingly liberalised in most industrialized countries. From a theoretical point of view, if capital is perfectly mobile between countries, national savings should respond to global investment opportunities and national investment should be financed drawing on the global pool of capital. Accordingly, there should be no empirical relationship between national saving and investment yet this was not observable in the analysis