| |
|
|
|
|
|
|
|
1. |
Record Nr. |
UNINA9910808810903321 |
|
|
Autore |
Wei Shang-Jin |
|
|
Titolo |
A Solution to Two Paradoxes of International Capital Flows / / Shang-Jin Wei, Jiandong Ju |
|
|
|
|
|
|
|
Pubbl/distr/stampa |
|
|
Washington, D.C. : , : International Monetary Fund, , 2006 |
|
|
|
|
|
|
|
ISBN |
|
1-4623-0944-5 |
1-4527-4206-5 |
1-283-51165-7 |
1-4519-8797-8 |
9786613824103 |
|
|
|
|
|
|
|
|
Descrizione fisica |
|
1 online resource (39 p.) |
|
|
|
|
|
|
Collana |
|
|
|
|
|
|
Altri autori (Persone) |
|
|
|
|
|
|
Soggetti |
|
Capital movements - Mathematical models |
International finance |
Exports and Imports |
Labor |
International Investment |
Long-term Capital Movements |
Labor Demand |
Retail and Wholesale Trade |
e-Commerce |
Trade Policy |
International Trade Organizations |
International economics |
Labour |
income economics |
Finance |
Capital flows |
Self-employment |
Foreign direct investment |
Trade in goods |
Trade liberalization |
Capital movements |
Self-employed |
Investments, Foreign |
Balance of trade |
Commercial policy |
United States |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lingua di pubblicazione |
|
|
|
|
|
|
Formato |
Materiale a stampa |
|
|
|
|
|
Livello bibliografico |
Monografia |
|
|
|
|
|
Note generali |
|
|
|
|
|
|
Nota di contenuto |
|
""Contents""; ""I. Introduction""; ""II. Paradoxes of International Capital Flows""; ""III. The Model""; ""IV. Aggregation and Equilibrium Conditions""; ""V. Comparative Statics""; ""VI. Free Trade and Capital Flows""; ""VII. Conclusions""; ""Appendix: Proofs"" |
|
|
|
|
|
|
|
|
Sommario/riassunto |
|
International capital flows from rich to poor countries can be regarded as either too low (the Lucas paradox in a one-sector model) or too high (when compared with the logic of factor price equalization in a two-sector model). To resolve the paradoxes, we introduce a non-neoclassical model which features financial contracts and firm heterogeneity. In our model, free patterns of gross capital flow emerge as a function of the quality of the financial system and the level of protection for property rights(i.e., the risk of expropriation. A poor country with an inefficient financial system but a low expropriation risk may simultaneously experience an outflow of financial capital but an inflow of foreign direct investment (FDI), resulting in a small net flow. |
|
|
|
|
|
|
|
| |