Following capital account liberalization and financial market deregulation in the early 1990s, many East Asian economies experienced a surge in international capital *** addition,these East Asian economies have taken ...
Following capital account liberalization and financial market deregulation in the early 1990s, many East Asian economies experienced a surge in international capital *** addition,these East Asian economies have taken various steps to improve regional financial cooperation and integration since the 1997/98 Asian financial ***,freely mobile international capital flows can benefit countries by efficiently matching worldwide savings and investment *** paper investigates the extent to which the domestic investment of East Asian economies is financed by domestic and foreign savings,based on the framework extended from Feldstein and Horioka(1980).In particular,this paper focuses on the role of(East Asian) regional versus global saving in financing domestic investment in order to infer the relative importance of regional versus global capital markets in East *** results show that Japanese saving has played an important role in financing domestic investment of emerging East Asian economies,while savings from G6 economies(G7 excluding Japan) have not been a significant factor.
暂无评论