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Testing for the Feldstein-Horioka hypothesis in Asia using wavelet analysis

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  • Faisal Nazir Zargar
  • Aviral Kumar Tiwari
  • Olaolu Richard Olayeni

Abstract

We investigate the Feldstein-Horioka (1980) puzzle using a novel time-frequency approach. The wavelet-based retention and correlation coefficients are estimated for a cross-section of 15 Asian countries over the period 1972–2016. The countries are grouped as OCED countries (Japan and South Korea), least developed countries (like Bangladesh and Nepal), the large countries (like India and China), and the small countries (like Sri Lanka and Pakistan). Our approach reveals some interesting insights on the relationship between investment and saving rates and investment and current account deficits.

Suggested Citation

  • Faisal Nazir Zargar & Aviral Kumar Tiwari & Olaolu Richard Olayeni, 2019. "Testing for the Feldstein-Horioka hypothesis in Asia using wavelet analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 26(12), pages 999-1006, July.
    • Handle: RePEc:taf:apeclt:v:26:y:2019:i:12:p:999-1006
    DOI: 10.1080/13504851.2018.1527440
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    Cited by:

    1. Vasudeva N. R. Murthy & Natalya Ketenci, 2020. "Capital mobility in Latin American and Caribbean countries: new evidence from dynamic common correlated effects panel data modeling," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-17, December.

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