【作者(必填)】
Ju，J. D.，K. Shi，S. J. Wei.
【文题(必填)】
Trade Liberalizations and Global Current Account Imbalances
【年份(必填)】
2012
【全文链接或数据库名称(选填)】
Ju，J. D.，K. Shi，S. J. Wei. Trade Liberalizations and Global Current Account Imbalances[R]，The NBER Reporter，2012 No. 1：Program and Working Group Meetings.
Cambridge, Mass. : National Bureau of Economic Research,
年份:
2012
载体形态:
1 online resource (36, [9] p.) : ill.
语种:
英语
丛编:
NBER working paper series ;; no. 18653; 异本: Working paper series (National Bureau of Economic Research) ;; no. 18653.
摘要:
While a reduction in import barriers in a partial equilibrium may be thought to lead to an increase in imports and a reduction in trade surplus, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified Heckscher-Ohlin structure and an endogenous discount factor into an intertemporal model of current account. We show that trade liberalizations in a developing country would generally lead to capital outflow. In contrast, trade liberalizations in a developed country would result in capital inflow. Thus, efficient trade reforms can contribute to global current account imbalances, but these imbalances do not need policy "corrections."
扫码加好友，拉您进群
全部版块
我的主页
收藏
