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首页> 外文期刊>International Journal of Business and Management >Capital Mobility in African Countries
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Capital Mobility in African Countries

机译：非洲国家的资本流动

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It is well known that one of the important aspects of achieving sustainable development is to preserve macroeconomic stability, which is closely related to the extent of capital mobility. Given the importance of the subject for open economies, this paper examines the degree of capital mobility for African countries by using among other methodologies the Feldstein- Horioka coefficients. To determine those coefficients, we use time series data and methods, along with the Dynamic Heterogeneous panel approach. We find significant cross-country heterogeneity in the dynamic of income per capita, investment rate, and saving rate; and conclude that it is invalid to pool data across our sample countries. Furthemore, the empirical findings reveal that for African countries included in the sample, the estimated saving retention coefficients are at the same time, small and high indicating respectively higher and lower degrees of capital mobility and therefore, challenging the results of Feldstein – Horioka on developing countries.
机译：众所周知，实现可持续发展的重要方面之一是保持宏观经济稳定，这与资本流动的程度密切相关。考虑到该主题对开放经济的重要性，本文通过使用Feldstein-Horioka系数等方法研究了非洲国家的资本流动程度。为了确定这些系数，我们使用时间序列数据和方法，以及动态异构面板方法。我们发现人均收入，投资率和储蓄率的动态存在明显的跨国异质性。并得出结论认为，在我们的样本国家/地区汇总数据是无效的。此外，实证研究结果表明，对于样本中包括的非洲国家，估计的储蓄保留系数同时较小，较高，分别表明资本流动程度较高和较低，因此，挑战了费尔德斯坦–霍里奥卡在发展中的结果。国家。

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