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RBA Glossary definition for capital market

capital market – A market for medium to long-term financial instruments. Financial instruments traded in the capital market include shares, and bonds issued by the Australian Government, State governments, corporate borrowers and financial institutions.

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Capital Controls

31 Dec 2007 RDP 2007-10
Luke Willard
Download the Paper 301. KB. Another potential explanation for the three puzzles could be capital-market restrictions. ... imperfections. The following regression explores whether capital-market restrictions could play a role together with trade costs in
https://www.rba.gov.au/publications/rdp/2007/2007-10/capital-controls.html

Introduction

31 Dec 2007 RDP 2007-10
Luke Willard
One, called the Feldstein-Horioka puzzle, is why domestic investment is correlated with domestic saving when, in a world with open capital markets, savings should flow to countries with the greatest ... Similarly, financial market imperfections due to
https://www.rba.gov.au/publications/rdp/2007/2007-10/introduction.html

References

31 Dec 2007 RDP 2007-10
Luke Willard
Feldstein M and C Horioka (1980), ‘Domestic Saving and International Capital Flows’, Economic Journal, 90(358), pp 314–329. ... Taylor AM (1994), ‘Domestic Saving and International Capital Flows Reconsidered’, NBER Working Paper No 4892.
https://www.rba.gov.au/publications/rdp/2007/2007-10/references.html

Conclusions

31 Dec 2007 RDP 2007-10
Luke Willard
Additional analysis suggests that the effect of trade costs is somewhat robust to the inclusion of measures of capital controls in the regressions. ... One plausible argument is that all three puzzles should be linked because they are in some sense
https://www.rba.gov.au/publications/rdp/2007/2007-10/conclusions.html