Capital markets integration, growth and income distribution
نویسندگان
چکیده
The paper considers a two-country model of overlapping generation heterogenous economies with intergenerational transfers carried out in the form of bequest and investment in human capital. We examine in competitive equilibrium the transitory and long-run e!ects of capital markets integration. First, we explore how the regime of public education a!ects the dynamics of the integrated economy. Second, we study the e!ects of capital markets integration, in equilibrium, on the intragenerational income distribution in both the host and investing country. 2002 Elsevier Science B.V. All rights reserved. JEL classixcation: D9; E2; F2; J2
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