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dc.contributor.authorHoffmann, Mathiasen_US
dc.date.accessioned2012-04-25en_US
dc.date.accessioned2012-05-02T15:45:18Z-
dc.date.available2012-05-02T15:45:18Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/57740-
dc.description.abstractOver the last two decades, countries have exhibited net foreign assets and liabilities. This paper develops an empirical model to examine the causes for the stock of the net foreign asset positions in 51 developing and industrialised countries. The reasons for significantly high or low net foreign asset positions can be derived from long-run trend differences in saving and investment. Using cointegration techniques, it is shown that GDP per capita, public debt and demographic factors influence long-run saving and investment and, hence, net external wealth of developing and industrialised countries.en_US
dc.language.isoengen_US
dc.publisherCentre for Financial Research Cologneen_US
dc.relation.ispartofseriesCFR Working Paper 05-09en_US
dc.subject.jelC23en_US
dc.subject.jelF41en_US
dc.subject.jelG15en_US
dc.subject.ddc330en_US
dc.subject.keywordSavingsen_US
dc.subject.keywordInvestment and Net Foreign Assetsen_US
dc.subject.keywordCointegrated Panel Dataen_US
dc.titleSaving, investment and the net foreign asset positionen_US
dc.typeWorking Paperen_US
dc.identifier.ppn699918537en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:cfrwps:0509-
Appears in Collections:CFR Working Papers, Centre for Financial Research (CFR), Universität Köln

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