Saving-investment dynamics and capital mobility in the US and Japan

Article Abstract:

The study of saving-investment activity and capital mobility in the US and Japan showed that a high long-run connection between saving and investment better reveals the activity of a country's intertemporal budget constraint, rather than as a measure of capital mobility. After 1980, bigger disparities in the short-run responses of saving and investment in the US emerged. No strong evidence was established that the advancement of capital controls in Japan in the 1980s, was linked with hikes in short-run net capital flows to the country in answer to Japanese or US shocks.

Public Finance Activities, Administration of General Economic Programs, National Government Finance, Economic Planning & Research, Research, Economic aspects, Japan, Economic conditions, United States economic conditions, Public finance, Capital movements

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A search for long memory in international stock market returns

Article Abstract:

The behavior of stock returns over the long- and short-terms are of major interest to financial economists. Long memory analysis is done through empirical study. The Morgan Stanley Capital International stock index data is used for 18 countries to gather international evidence on long memory. A fractional differencing test and a modified rescaled range test are employed. Little evidence for long memory in international stock returns were gathered from the empirical analysis.

Finance, International aspects, Stock-exchange, Stock exchanges, Economics

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