TY  - JOUR
AU  - Helliwell,John F.
AU  - McKitrick,Ross
TI  - Comparing Capital Mobility Across Provincial and National Borders
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6624
PY  - 1998
Y2  - June 1998
UR  - http://www.nber.org/papers/w6624
L1  - http://www.nber.org/papers/w6624.pdf
N1  - Author contact info:
John F. Helliwell
Canadian Institute for Advanced Research
and Department of Economics
University of British Columbia
997-1873 East Mall
Vancouver BC V6T 1Z1
CANADA
Tel: 604/822-4953
Fax: 604/822-5915
E-Mail: john.helliwell@ubc.ca
AB  - The persistence of high savings-investment correlations and home-country bias in portfolio construction at the national level is contrasted with new evidence of savings behaviour in Canadian provinces.  We confirm that national borders clearly divert flows of capital to domestic investments, but provincial borders have no such effect.  In particular, while there is a significant correlation between national savings and investment, among provinces that effect disappears.  We discuss the implications for interpreting the distinction between provincial and national borders.
ER  -