International Conference on Eurasian Economies
1-3 July 2014 – Skopje, MACEDONIA
Paper detail
Paper ID : 894
Status : Paper published
Language : Turkish
Topic : Regional Economics
Presenter: Ph.D. candidate Selen Utlu
Session : 2D Finans
The Feldstein–Horioka Puzzle in Balkan Countries: A Panel Co-integration Analysis
Balkan Ülkelerinde Feldstein–Horioka Paradoksu: Bir Panel Eşbütünleşme Analizi
- Prof. Dr. İbrahim Örnek (Kahramanmaraş Sütçü İmam University, Türkiye)
- Ph.D. candidate Selen Utlu (Gaziantep University, Türkiye)
- Dr. Mustafa Baylan (Kahramanmaraş Sütçü İmam University, Türkiye)
Abstract
As the capital markets of developing countries have become highly integrated into the global market in recent years, the determination of the degree of capital mobility has gained importance. The purpose of this study is to determine the degree of integration of capital markets 10 developing Balkan countries (Macedonia, Romania, Greece, Serbia, Croatia, Bosnia-Herzegovina, Bulgaria, Albania, Hungary and Slovenia) to integration of international capital markets the using of annual data in 1990-2012 period. Based on investment-saving co-integration, the degree of international capital mobility has tried to expose, using panel co-integration analysis. In the context of the results found, full capital mobility has not been observed in the countries concerned of during the period examined.
JEL codes: C23, F36
Örnek, İbrahim, Utlu, Selen, Baylan, Mustafa (2014). "The Feldstein–Horioka Puzzle in Balkan Countries: A Panel Co-integration Analysis" in Proceedings of International Conference of Eurasian Economies 2014, pp.708-716, Skopje, MACEDONIA.
DOI: https://doi.org/10.36880/C05.00894
