International Capital Mobility and Crowding-out in the U.S. Economy: Imperfect Integration of Financial Markets or of Goods Markets?
Year: 1986
Type: article
Abstract: The author examines the contention that “the U.S. economy has become so open financially as to be characterized by perfect capital mobility.” He investigates this belief by reconsidering the observation of Feldstein and Horioka that investment rates and national savings rates are highly correlated, implying low capital mobility.
Author: Jeffrey A. Frankel
Institutions: National Bureau of Economic Research, Harvard University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W1492014696