Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/92644 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
ISER Discussion Paper No. 778
Verlag: 
Osaka University, Institute of Social and Economic Research (ISER), Osaka
Zusammenfassung: 
In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners of capital to invest their capital in their own country to as great an extent as possible and that it is the pursuit of security rather than the pursuit of profit that leads individuals to promote the good of society as a whole via the 'invisible hand.'
Schlagwörter: 
Feldstein-Horioka paradox
Feldstein-Horioka puzzle
capital mobility
capital flows
saving
investment
Adam Smith
invisible hand
JEL: 
B12
F21
F32
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
30.63 kB





Publikationen in EconStor sind urheberrechtlich geschützt.