Professor Robert MacCulloch: Does the Feldstein-Horioka Puzzle mean National's Foreign Investment Strategy Won't Raise NZ Productivity?

The NZ Herald's Editor has declared its journalists will be promoted or fired on the basis of factors like how many clicks they get on their articles. Yes, the Herald is now officially "click bait". We're trying to avoid the mistake of writing shallow nonsense at this Blog. So on that note, here's a somewhat techy economics note. It may seem obscure, but could in fact imply that a major part of National's attempt to increase investment in NZ, and thereby raise productivity, will fail. Here goes.