Tariffs, Capital Accumulation, and the Current Account in a Small Open Economy
نویسندگان
چکیده
منابع مشابه
Capital Accumulation and Convergence in a Small Open Economy
Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same....
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â â â â â â â abstract â outward-oriented economies seem to grow faster than inward-looking ones. does the literature on convergence have anything to say on this? in the dynamic heckscher-ohlin-samuelson model, with factor-price equalization, there is no convergence of incomes. this is because with identical preferences and return to capital, irrespective of initial levels the growth rates o...
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Despite the liberalization of capital ows among OECD countries, equity home bias remains sizable, but is now less severe than in earlier decades; as a result, uctuations in returns on foreign assets have a substantial e¤ect on countrieswealth. As documented in this paper, changes in net foreign asset positions (NFA) are highly volatile, serially uncorrelated and countercyclical. We show that...
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ژورنال
عنوان ژورنال: International Economic Review
سال: 1989
ISSN: 0020-6598
DOI: 10.2307/2526753