{"id":"https://openalex.org/W1589508155","doi":"https://doi.org/10.7208/chicago/9780226241807.001.0001","title":"International Capital Flows","display_name":"International Capital Flows","publication_year":1999,"publication_date":"1999-01-01","ids":{"openalex":"https://openalex.org/W1589508155","doi":"https://doi.org/10.7208/chicago/9780226241807.001.0001","mag":"1589508155"},"language":"en","primary_location":{"id":"doi:10.7208/chicago/9780226241807.001.0001","doi":"https://doi.org/10.7208/chicago/9780226241807.001.0001","is_oa":false,"landing_page_url":"https://doi.org/10.7208/chicago/9780226241807.001.0001","pdf_url":null,"source":{"id":"https://openalex.org/S4306464156","display_name":"University of Chicago Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":null,"raw_type":"monograph"},"volume":null,"type":"book","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5108406018","display_name":"Martin S. Feldstein","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Martin Feldstein","raw_affiliation_strings":["Harvard University Tax Policy and International Capital","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Harvard University Tax Policy and International Capital","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5108406018"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I136199984"],"apc_list":null,"apc_paid":null,"fwci":1.4547,"has_fulltext":false,"cited_by_count":23,"citation_normalized_percentile":{"value":0.89588378,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":93,"max":97},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/international-capital-flows","display_name":"international capital flows","score":0.8880000114440918},{"id":"https://openalex.org/keywords/capital-mobility","display_name":"capital mobility","score":0.9020000100135803},{"id":"https://openalex.org/keywords/capital-market-segmentation","display_name":"capital market segmentation","score":0.9430000185966492},{"id":"https://openalex.org/keywords/feldstein-horioka-puzzle","display_name":"Feldstein-Horioka puzzle","score":0.8999999761581421},{"id":"https://openalex.org/keywords/home-bias","display_name":"home bias","score":0.5699999928474426},{"id":"https://openalex.org/keywords/risk-aversion","display_name":"risk aversion","score":0.7400000095367432},{"id":"https://openalex.org/keywords/hedging","display_name":"hedging","score":0.7459999918937683},{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.9589999914169312},{"id":"https://openalex.org/keywords/capital-income-taxation","display_name":"capital income taxation","score":0.906000018119812},{"id":"https://openalex.org/keywords/investment-subsidies","display_name":"investment subsidies","score":0.6840000152587891}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4211270213127136},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37289631366729736}],"mesh":[],"locations_count":6,"locations":[{"id":"doi:10.7208/chicago/9780226241807.001.0001","doi":"https://doi.org/10.7208/chicago/9780226241807.001.0001","is_oa":false,"landing_page_url":"https://doi.org/10.7208/chicago/9780226241807.001.0001","pdf_url":null,"source":{"id":"https://openalex.org/S4306464156","display_name":"University of Chicago Press eBooks","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310315672","host_organization_name":"University of Chicago Press","host_organization_lineage":["https://openalex.org/P4310315672","https://openalex.org/P4310315690"],"host_organization_lineage_names":["University of Chicago Press","University of Chicago"],"type":"ebook platform"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":null,"raw_type":"monograph"},{"id":"pmh:oai:RePEc:nbr:nberch:9795","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/chapters/c9795.pdf","pdf_url":"http://www.nber.org/chapters/c9795.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"book"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.320.6574","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.320.6574","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://www.nber.org/papers/w4851.pdf","raw_type":"text"},{"id":"mag:3122955437","doi":null,"is_oa":false,"landing_page_url":"https://ideas.repec.org/b/nbr/nberbk/feld99-2.html","pdf_url":null,"source":{"id":"https://openalex.org/S4306520637","display_name":"NBER Books","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"NBER Books","raw_type":null},{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-008763968","doi":null,"is_oa":false,"landing_page_url":"http://www.loc.gov/catdir/description/uchi052/99028727.html","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"text"},{"id":"pmh:oai:aleph.bib-bvb.de:BVB01-028389280","doi":null,"is_oa":false,"landing_page_url":"http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=220079","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Konferenzschrift"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":25,"referenced_works":["https://openalex.org/W14593297","https://openalex.org/W1482640105","https://openalex.org/W1496708560","https://openalex.org/W1497956206","https://openalex.org/W1518914219","https://openalex.org/W1524436650","https://openalex.org/W1555826884","https://openalex.org/W1567602610","https://openalex.org/W1581935925","https://openalex.org/W1592741959","https://openalex.org/W1965587578","https://openalex.org/W1978891301","https://openalex.org/W2010974240","https://openalex.org/W2020218559","https://openalex.org/W2036778476","https://openalex.org/W2068046744","https://openalex.org/W2117449834","https://openalex.org/W2313999329","https://openalex.org/W2569572625","https://openalex.org/W3121201197","https://openalex.org/W3123465718","https://openalex.org/W3124576990","https://openalex.org/W3125924934","https://openalex.org/W4229807481","https://openalex.org/W4299839386"],"related_works":["https://openalex.org/W2004746607","https://openalex.org/W1508173751","https://openalex.org/W1562096464","https://openalex.org/W7095708438","https://openalex.org/W2135389215","https://openalex.org/W1481104156","https://openalex.org/W2094477183","https://openalex.org/W1857911793","https://openalex.org/W2034772820","https://openalex.org/W1576874294"],"abstract_inverted_index":{"Although":[0],"capital":[1,43,53,64,111,115,128,150,156],"is":[2,12,61,65,143,161],"now":[3],"generally":[4],"free":[5,66],"to":[6,18,21,56,67,82,86,99],"move":[7],"across":[8],"national":[9],"borders,":[10],"there":[11],"strong":[13],"evidence":[14,108],"that":[15],"savings":[16],"tend":[17],"remain":[19],"and":[20,44,71,96,113,121,126,133,159],"be":[22],"invested":[23],"in":[24,102,163],"the":[25,28,35,39,51,73,110,122,148,153,164,168],"countiy":[26],"where":[27],"saving":[29],"takes":[30],"place.The":[31],"current":[32],"paper":[33,106],"examines":[34],"apparent":[36],"conflict":[37],"between":[38,124],"potential":[40],"mobility":[41,112],"of":[42,50,89,92,119,139,147,155,167],"'the":[45],"observed":[46],"de":[47],"facto":[48],"segmentation":[49,146],"global":[52,149],"marketThe":[54],"key":[55],"reconciling":[57],"this":[58],"\"Feldstein-Horioka":[59],"paradox\"":[60],"that,":[62],"although":[63],"move,":[68],"its":[69],"owners,":[70],"especially":[72],"agents":[74],"who":[75],"are":[76,135],"responsible":[77],"for":[78,130],"institutional":[79],"investments,":[80],"prefer":[81],"keep":[83],"funds":[84],"close":[85],"home":[87],"because":[88],"a":[90,97],"combination":[91],"risk":[93],"aversion,":[94],"ignorance":[95],"desire":[98],"show":[100],"prudence":[101],"their":[103],"investing":[104],"behavior.The":[105],"presents":[107],"on":[109,114],"market":[116,151],"segmentation.The":[117],"role":[118],"hedging":[120],"difference":[123],"gross":[125],"net":[127],"movements":[129],"individual":[131],"investors":[132],"borrowers":[134],"discussed.The":[136],"special":[137],"place":[138],"foreign":[140],"direct":[141],"investment":[142],"also":[144],"considered.The":[145],"affects":[152],"impact":[154],"income":[157],"taxes":[158],"subsidies.This":[160],"discussed":[162],"fmal":[165],"section":[166],"paper.":[169]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2019,"cited_by_count":2},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}