The Feldstein-Horioka Paradox - Evidence for Colombia during 1925-2011
作者： Óscar Penagos Gómez , , Héctor Rojas Serrano , Jacobo Campo Robledo ,
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摘要: This paper examines the relationship between national investment and saving in Colombia during period 1925-2011. Consistent with Cardenas Escobar (1998), an Error Correction Model is used to examine short long run effects. The results provide evidence that are co-integrated study period. for co-integration vector, without structural breaks, indicate capital mobility was low, which consistent Feldstein – Horioka [1980] paradox. imply increases domestic rates reduce of financial Colombia.
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