| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22081 |
| 来源ID | Working Paper 22081 |
| The \"Real\" Explanation of the Feldstein-Horioka Puzzle | |
| Nicholas Ford; Charles Yuji Horioka | |
| 发表日期 | 2016-03-14 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | This paper shows that global capital markets cannot, by themselves, achieve net transfers of financial capital between countries and that both the integration of global financial markets as well as the integration of global goods markets are needed to achieve net transfers of capital between countries. Frictions (barriers to mobility) in one or both of these markets can impede net transfers of capital between countries, produce the Feldstein and Horioka (1980) results, and prevent real interest rates from being equalized across countries. Moreover, there is empirical evidence that barriers to the mobility of goods and services are an important obstacle to international capital mobility. |
| 主题 | International Economics ; International Factor Mobility ; International Finance ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w22081 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579754 |
| 推荐引用方式 GB/T 7714 | Nicholas Ford,Charles Yuji Horioka. The \"Real\" Explanation of the Feldstein-Horioka Puzzle. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22081.pdf（67KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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