Martin Feldstein and Charles Horioka Found That After the Liberalization

Martin Feldstein and Charles Horioka found that after the liberalization of international investment in the late twentieth century:

A) economic growth reduced the amount of international investment.
B) saving and investment still remained roughly in balance in each of the individual countries included in their study.
C) most developed economies became either large net borrowers or net lenders.
D) nearly all of the countries included in their study began to borrow heavily overseas.