This paper investigates the Feldstein-Horioka coefficient for 15 EU countries, using the recently developed several nonstatioanry panel cointegration techniques. The empircal results show that the savings and investment rates are nonstationary and cointegrated in panel. The estimated FH coefficients using panel FMOLS and DOLS estimators have significantly declined for the second sub-period of 1981-2001(0.26-0.28), comparing with those for the first sub-period of 1954-80(0.62-0.69). This means that international capital in EU moves freely across countries during the period of 1981-2001. These estimated FH coefficients are consistent with the generally accepted recognitions that international capital flows in EU have increased significantly after the 1980s.