THE FELDSTEIN-HORIOKA HYPOTHESIS AND INTERNATIONAL CAPITAL MOBILITY: AN EMPIRICAL INVESTIGATION FOR TURKEY
ACTUAL PROBLEMS OF ECONOMICS, sa.136, ss.460-466, 2012 (SSCI, Scopus)
- 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.