کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
975151 | 933018 | 2008 | 4 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Exchange rate regimes, saving glut and the Feldstein–Horioka puzzle: The East Asian experience
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
ریاضیات
فیزیک ریاضی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Exchange rate regimes, saving glut and the Feldstein–Horioka puzzle: The East Asian experience Exchange rate regimes, saving glut and the Feldstein–Horioka puzzle: The East Asian experience](/preview/png/975151.png)
چکیده انگلیسی
This paper investigates whether the recent experience of the emerging East Asian countries with current account surpluses is consistent with the “saving glut” hypothesis and the Feldstein and Horioka puzzle. The evidence suggests that the saving retention coefficients declined substantially in most of the countries after an endogenous break date coinciding with a major exchange rate regime change with the 1997–1998 crisis. Exchange rate flexibility appears to be enhancing financial integration. The results are consistent with an “investment slump” explanation rather than the “saving glut” postulation.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Physica A: Statistical Mechanics and its Applications - Volume 387, Issue 11, 15 April 2008, Pages 2561–2564
Journal: Physica A: Statistical Mechanics and its Applications - Volume 387, Issue 11, 15 April 2008, Pages 2561–2564
نویسندگان
Seçil Kaya-Bahçe, Erdal Özmen,