THE FELDSTEIN-HORIOKA HYPOTHESIS AND INTERNATIONAL CAPITAL MOBILITY: AN EMPIRICAL INVESTIGATION FOR TURKEY

Kiran B.

ACTUAL PROBLEMS OF ECONOMICS, sa.136, ss.460-466, 2012 (SSCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: Sayı: 136
  • Basım Tarihi: 2012
  • Dergi Adı: ACTUAL PROBLEMS OF ECONOMICS
  • Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, ABI/INFORM, EconLit
  • Sayfa Sayıları: ss.460-466
  • İstanbul Üniversitesi Adresli: Evet

Özet

This empirical study is conducted to test the validity of the Feldstein-Horioka hypothesis for Turkey over the period 1960-2010 by means of fractional cointegration approach of Gil-Alana (2003) and Caporale and Gil-Alana (2004). According to the results, investment rate and savings rate series are fractionally cointegrated, supporting the validity of the Feldstein-Horioka hypothesis and low international capital mobility for Turkey.