TY  - JOUR
AU  - Feldstein,Martin
AU  - Horioka,Charles
TI  - Domestic Savings and International Capital Flows
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 310
PY  - 1980
Y2  - September 1980
UR  - http://www.nber.org/papers/w0310
L1  - http://www.nber.org/papers/w0310.pdf
N1  - Author contact info:
Martin S. Feldstein
President Emeritus
NBER
1050 Massachusetts Avenue
Cambridge, MA  02138-5398
Tel: 617/868-3905
Fax: 617/868-7194
E-Mail: msfeldst@nber.org

Charles Y. Horioka
Institute of Social and Economic Research
Osaka University
6-1 Mihogaoka, Ibaraki-shi
Osaka-fu 567-0047  JAPAN
Tel: 81-6-6879-8586
Fax: 81-6-6878-2766
E-Mail: horioka@iser.osaka-u.ac.jp
M1  - published as Feldstein, Martin and Horioka, Charles. "Domestic Saving and International Capital Flows." The Economic Journal, Vol. 90, (June 1980), pp. 314-329.
AB  - How internationally mobile is the world's supply of capital? Does capital flow among industrial countries to equalize the yield to investors? Alternatively, does the saving that originates in a country remain 'to be invested there? Or does the truth lie somewhere between these two extremes? The answers to these questions are not only important for understanding the international capital market but are also critical for analyzing a wide range of issues including the nation's optimal rate of saving and the incidence of tax changes.
ER  -