Saving, investment, and capital mobility: A comment on Leachman

Jakob de Haan; Clemens L.J. Siermann

doi:10.1007/BF01000740

Saving, investment, and capital mobility: A comment on Leachman

Jakob de Haan^*, Clemens L.J. Siermann

^*Corresponding author for this work

Research output: Contribution to journal › Letter › Academic › peer-review

25 Citations (Scopus)

Abstract

In this note we use a consistent long-run data set recently published by Maddison (1991) for 10 countries to examine the long-run relationship between saving and investment. In contrast to recent findings of Leachman (1991) we conclude that saving and investment are cointegrated in many countries. Our results suggest that aggregate demand and supply shocks explain much of the time series correlation between total saving and investment.

Original language	English
Pages (from-to)	5-17
Number of pages	13
Journal	Open Economies Review
Volume	5
Issue number	1
DOIs	https://doi.org/10.1007/BF01000740
Publication status	Published - Mar-1994

Keywords

capital mobility
cointegration
Feldstein-Horioko test
saving-investment correlation

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title = "Saving, investment, and capital mobility: A comment on Leachman",

abstract = "In this note we use a consistent long-run data set recently published by Maddison (1991) for 10 countries to examine the long-run relationship between saving and investment. In contrast to recent findings of Leachman (1991) we conclude that saving and investment are cointegrated in many countries. Our results suggest that aggregate demand and supply shocks explain much of the time series correlation between total saving and investment.",

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T2 - A comment on Leachman

AU - de Haan, Jakob

AU - Siermann, Clemens L.J.

PY - 1994/3

Y1 - 1994/3

N2 - In this note we use a consistent long-run data set recently published by Maddison (1991) for 10 countries to examine the long-run relationship between saving and investment. In contrast to recent findings of Leachman (1991) we conclude that saving and investment are cointegrated in many countries. Our results suggest that aggregate demand and supply shocks explain much of the time series correlation between total saving and investment.

AB - In this note we use a consistent long-run data set recently published by Maddison (1991) for 10 countries to examine the long-run relationship between saving and investment. In contrast to recent findings of Leachman (1991) we conclude that saving and investment are cointegrated in many countries. Our results suggest that aggregate demand and supply shocks explain much of the time series correlation between total saving and investment.

KW - capital mobility

KW - cointegration

KW - Feldstein-Horioko test

KW - saving-investment correlation

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U2 - 10.1007/BF01000740

DO - 10.1007/BF01000740

M3 - Letter

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SP - 5

EP - 17

JO - Open Economies Review

JF - Open Economies Review

IS - 1

ER -

Saving, investment, and capital mobility: A comment on Leachman

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Keywords

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