EH.Net Abstracts in Economic History

                EHS Abstract Submission
                    (c) 1996 EH.Net
-----------------------------------------------------------
              Name:  Alan M. Taylor
             Email:  amtaylor at ucdavis.edu
       Institution:  University of California at Davis

         Co-author:

             Title:  International Capital Mobility in History:
Saving-Investment Criteria for Short- and Long-Run Capital Mobility Since
the Mid-Nineteenth Century.

  Internet Address
of abstracted work:  http://www.econ.ucdavis.edu/~amtaylor/papers/

           By mail:
                     Department of Economics
                     University of California at Davis
                     One Shield Avenue
                     Davis, CA 95616-8578

          Language:  English

          Abstract:
   Economic historians have been concerned with the evolution of international
capital markets over the long run, but empirical testing of market
integration
has been limited. This paper augments the literature by investigating long-
and
short-run criteria for capital mobility using time-series and cross-section
analysis of saving-investment correlation for ten countries since 1850. The
results present a nuanced picture of capital market evolution: long-run
capital-mobility exhibits considerable fluctuation; short-run mobility
evolves
differently in the several sample countries studied. Further research is
needed
on the role of demographic structure, growth, relative prices, and
financial
development.


      Bibliography:  Taylor, Alan M. "International Capital Mobility in History:
Saving-Investment Criteria for Short- and Long-Run Capital Mobility Since
the Mid-Nineteenth Century." NBER Working Paper Series no. 5742.

           Subject:  W
 Geographical Area:  0
    Country/Region:  World
       Time Period:  7