02134cas a2200241 a 4500 AALejournalIMF010527 230101c9999 xx r poo 0 0eng d 15.00 USD 9781451956672 1020-7635 BD-DhAAL BD-DhAAL International Monetary Fund. Research Dept. IMF Staff papers : Volume 31 No. 1. Washington, D.C. : International Monetary Fund, 1984. 1 online resource (250 pages) IMF Staff Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the role of domestic and foreign savings in financing capital formation in 19 industrial countries during the years after World War II. The authors' interpretation of the statistical evidence is that there is very little support for the view that, over the medium term, goods and services freed by savings in one industrial country are systematically made available through current account imbalances to finance investment in physical capital in other industrial countries. The study also finds little support for the view that the integration of financial capital markets in recent years has altered the relationships among domestic savings, investment, and current account imbalances in industrial countries. The evidence suggests that changes in net foreign assets, and the associated current account imbalances, were no more sensitive to cross-country differences in rates of return on physical capital in the ten years ending in 1981 than they had been in the 1950s, when extensive capital controls and trade restrictions hampered the economic integration of the industrial countries. Mode of access: Internet IMF Staff Papers; IMF Staff Papers ; No. 1984/001 Full text available on IMF http://elibrary.imf.org/view/journals/024/1984/001/024.1984.issue-001-en.xml IMF e-Library