A Solution to Two Paradoxes of International Capital Flows / / Shang-Jin Wei, Jiandong Ju
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| Autore: |
Wei Shang-Jin
|
| Titolo: |
A Solution to Two Paradoxes of International Capital Flows / / Shang-Jin Wei, Jiandong Ju
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2006 |
| Edizione: | 1st ed. |
| Descrizione fisica: | 1 online resource (39 p.) |
| Soggetto topico: | Capital movements - Mathematical models |
| International finance | |
| Balance of trade | |
| Capital flows | |
| Capital movements | |
| Commercial policy | |
| E-Commerce | |
| Exports and Imports | |
| Finance | |
| Foreign direct investment | |
| Income economics | |
| International economics | |
| International Investment | |
| International Trade Organizations | |
| Investments, Foreign | |
| Labor Demand | |
| Labor | |
| Labour | |
| Long-term Capital Movements | |
| Retail and Wholesale Trade | |
| Self-employed | |
| Self-employment | |
| Trade in goods | |
| Trade liberalization | |
| Trade Policy | |
| Soggetto geografico: | United States |
| Altri autori: |
JuJiandong
|
| Note generali: | "July 2006." |
| 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. |
| Titolo autorizzato: | A Solution to Two Paradoxes of International Capital Flows |
| ISBN: | 1-4623-0944-5 |
| 1-4527-4206-5 | |
| 1-283-51165-7 | |
| 1-4519-8797-8 | |
| 9786613824103 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910808810903321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2006/178