Detail Increasing Returns and The Optimality of Open Capital Markets in A Small Growing Economy   Oleh:  Song, E. Young Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 34 no. 3 (1993), page 705-714. Topik: CAPITAL MARKET; optimality; capital market; small growing economy Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper examines the welfare consequences of liberalizing capital markets in the presence of increasing returns driven by externalities in knowledge and capital accumulation. Using a revealed preference argument in a continuous - time infinite horizon model, this paper shows that the opening of capital markets can result in welfare deterioration if foreign interest rates are high and capital outflows are likely. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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