Saving-Investment Relationship and Capital Mobility:Evidence from Chinese Provincial Data, 1980—2007
Saving-Investment Relationship and Capital Mobility:Evidence from Chinese Provincial Data, 1980—2007
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发表时间：
2009-08
影响因子：
0.6
通讯作者：
Yoshihiro Hashiguchi;S. Hamori
中科院分区：
文献类型：
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作者：
Yoshihiro Hashiguchi;S. Hamori
本研究利用1980年至2007年中国各省的面板数据，对Feldstein和堀冈（Horioka, 1980）使用的储蓄-投资模型进行了估计，揭示了自开放政策实施以来中国国内资本流动的变化，并确定了自2000年以来中国国内资本流动是否有所增加。20世纪80年代前半期观察到高资本流动性，随后在90年代观察到低资本流动性。1996年前后，资本流动性再次开始逐渐增加，在2000年代达到了与其他主要工业化国家相似的水平。
Panel data for individual Chinese provinces from 1980 to 2007 was used to estimate the saving-investment model used by Feldstein and Horioka (1980), shed light on changes to China's domestic capital mobility since the adoption of the Open Door Policy, and determine whether there has been any increase in mobility since 2000. High capital mobility was observed through the first half of the 1980s followed by low capital mobility during the 1990s. Capital mobility began to gradually increase again around 1996, reaching levels similar to those of other leading industrialized countries in the 2000s.