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100   $a20020129d2006      uf             0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 12$aA Solution to Two Paradoxes of International Capital Flows /$fShang-Jin Wei, Jiandong Ju
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (39 p.)
225 1 $aIMF Working Papers
300   $a"July 2006."
311   $a1-4518-6438-8 
327   $a""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""
330 3 $aInternational capital flows from rich to poor countries can be regarded as either too low (the Lucas paradox in a one-sector model) or too high (when compared with the logic of factor price equalization in a two-sector model). To resolve the paradoxes, we introduce a non-neoclassical model which features financial contracts and firm heterogeneity. In our model, free patterns of gross capital flow emerge as a function of the quality of the financial system and the level of protection for property rights(i.e., the risk of expropriation. A poor country with an inefficient financial system but a low expropriation risk may simultaneously experience an outflow of financial capital but an inflow of foreign direct investment (FDI), resulting in a small net flow.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/178
606   $aCapital movements$xMathematical models
606   $aInternational finance
606   $aExports and Imports$2imf
606   $aLabor$2imf
606   $aInternational Investment$2imf
606   $aLong-term Capital Movements$2imf
606   $aLabor Demand$2imf
606   $aRetail and Wholesale Trade$2imf
606   $ae-Commerce$2imf
606   $aTrade Policy$2imf
606   $aInternational Trade Organizations$2imf
606   $aInternational economics$2imf
606   $aLabour$2imf
606   $aincome economics$2imf
606   $aFinance$2imf
606   $aCapital flows$2imf
606   $aSelf-employment$2imf
606   $aForeign direct investment$2imf
606   $aTrade in goods$2imf
606   $aTrade liberalization$2imf
606   $aCapital movements$2imf
606   $aSelf-employed$2imf
606   $aInvestments, Foreign$2imf
606   $aBalance of trade$2imf
606   $aCommercial policy$2imf
607   $aUnited States$2imf
615  0$aCapital movements$xMathematical models.
615  0$aInternational finance.
615  7$aExports and Imports
615  7$aLabor
615  7$aInternational Investment
615  7$aLong-term Capital Movements
615  7$aLabor Demand
615  7$aRetail and Wholesale Trade
615  7$ae-Commerce
615  7$aTrade Policy
615  7$aInternational Trade Organizations
615  7$aInternational economics
615  7$aLabour
615  7$aincome economics
615  7$aFinance
615  7$aCapital flows
615  7$aSelf-employment
615  7$aForeign direct investment
615  7$aTrade in goods
615  7$aTrade liberalization
615  7$aCapital movements
615  7$aSelf-employed
615  7$aInvestments, Foreign
615  7$aBalance of trade
615  7$aCommercial policy
700   $aWei$b Shang-Jin$0118987
701   $aJu$b Jiandong$01201424
712 02$aNational Bureau of Economic Research.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788415003321
996   $aA Solution to Two Paradoxes of International Capital Flows$93802286
997   $aUNINA