@article{(Open Science Index):https://publications.waset.org/pdf/10003671,
	  title     = {Capital Mobility in Savings and Investment across China and the ASEAN-5: Evidence from Recursive Cointegration},
	  author    = {Chang Lee Shu-Jung and  Mei-Se Chien and  Chien-Chiang Lee and  Hui-Ting Hu},
	  country	= {},
	  institution	= {},
	  abstract     = {This paper applies recursive cointegration analysis to
examine the dynamic changes in Feldstein-Horioka saving-investment
(S-I) coefficients across China and the ASEAN-5 countries over time.
To the extent that the S-I coefficients measure international capital
mobility, the main empirical results are as follows. The recursive trace
statistics show that the investment- savings nexus varies in these six
countries. There is no cointegration between investment and savings in
three countries (China, Malaysia, and Singapore), which means that
the mobility of the capital markets in the three is high and that
domestic investment in them will be financed by the global pool of
capital. As to the other three countries (Indonesia, Thailand, and
Philippines), there is cointegration between investment and savings for
part of the sample period in the three, including before 2002 for
Thailand, before 2001 for Indonesia, and before 2002 for Philippines.
This shows these three countries achieved highly mobile and open
capital markets later.},
	    journal   = {International Journal of Economics and Management Engineering},
	  volume    = {8},
	  number    = {8},
	  year      = {2014},
	  pages     = {2781 - 2790},
	  ee        = {https://publications.waset.org/pdf/10003671},
	  url   	= {https://publications.waset.org/vol/92},
	  bibsource = {https://publications.waset.org/},
	  issn  	= {eISSN: 1307-6892},
	  publisher = {World Academy of Science, Engineering and Technology},
	  index 	= {Open Science Index 92, 2014},
	}