Feldstein-Horioka (F-H) puzzle and country-specific effects: evidence from some developing countries' panel data
Article
Article Title | Feldstein-Horioka (F-H) puzzle and country-specific effects: evidence from some developing countries' panel data |
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ERA Journal ID | 18213 |
Article Category | Article |
Authors | Salahuddin, Mohammad (Author) and Wahid, Abu N. M. (Author) |
Journal Title | Indian Economic Journal |
Journal Citation | 60 (3), pp. 138-147 |
Number of Pages | 10 |
Year | 2012 |
Place of Publication | New Delhi, India |
ISSN | 0019-4662 |
Web Address (URL) | http://www.indianeconomicjournal.org/ |
Abstract | This study attempts to see whether the Feldstein-Horioka (F-H) puzzle holds when countryspecific effects are taken into account in a panel of 20 developing countries. We employ four estimation procedures, pooled, between, within (fixed effect) and random effect (RE) models. The results indicate that the puzzle does not go away even when country-specific effects are accounted for. In order to check robustness of results, estimates are also obtained from two sub-samples which produce qualitatively similar results. Overall findings contrast the results documented in Corbin (2001) and suggest that another puzzle (low correlation between savings and investment in developing countries) still remains even when country-specific effects are accounted for. |
Keywords | Feldstein-Horioka puzzle; F-H puzzle; developing countries; country-specific effects |
ANZSRC Field of Research 2020 | 440499. Development studies not elsewhere classified |
Public Notes | *The publication date shown by the article is October-December 2012 but it was actually published in 2014* |
Byline Affiliations | School of Accounting, Economics and Finance |
Tennessee State University, United States | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q2qw0/feldstein-horioka-f-h-puzzle-and-country-specific-effects-evidence-from-some-developing-countries-panel-data
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