Welfare implications of international financial integration
نویسندگان
چکیده
منابع مشابه
The Welfare Implications of Global Financial Flows
Any discussion of whether the global financial system has served the world well requires us to think about what it is that capital flows could achieve in the best of circumstances. The basic neoclassical model suggests that, with rising financial globalization, capital should flow from rich to poor countries, making people in both sets of countries better off by enabling a more efficient intern...
متن کاملAccepted Manuscript International Financial Integration
This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting proof before it is published in its final form. Please note that during the production process errors may be discovered which could affect the co...
متن کاملInternational Financial Integration and Entrepreneurship
We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Researchers have stressed the role of new firm activity and economic dynamism on growth. Yet, the empirical effects of international capital mobility on entrepreneurial activity have received little attention in the literature albeit the ambiguous theoretical predictions a...
متن کاملComment on “International Financial Integration”
Lane and Milesi-Ferretti gather data on assets and liabilities of 18 OECD countries. The data are classified by type of asset–debt instruments and equity instruments (either portfolio or foreign direct investment). To some extent the data allow them to classify changes in asset and liability positions that occur because of capital flows versus changes in valuation. With this data, Lane and Mile...
متن کاملShort-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration
This paper aims at clarifying the conditions under which nancial globalization originates welfare gains in a simple endogenous growth setting. We focus on the capital-deepening e ect of nancial globalization in an open-economy AK model and we show that constrained borrowing triggers substantial welfare gains, even at small levels of international nancial integration, provided that the autarkic ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Japan and the World Economy
سال: 2012
ISSN: 0922-1425
DOI: 10.1016/j.japwor.2012.08.001