A Welfare Analysis of Capital Account Liberalization

A Welfare Analysis of Capital Account Liberalization

We develop a model of a small open economy with credit market frictions to analyze the consequences of capital account liberalization. We show that financial opening facilitates the inflows of cheap foreign funds and improves production efficiency. Reforms increasing labor market exibility can furth...

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Bibliographic Details
Main Authors: von Hagen, Jürgen, ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2008
Subjects:
capital account liberalization
capital controls
financial frictions
macroeconomic fluctuations
asset price overshooting
Economics
International Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/423
https://ink.library.smu.edu.sg/context/soe_research/article/1422/viewcontent/RIE_vonHagen_Zhang.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/423
https://ink.library.smu.edu.sg/context/soe_research/article/1422/viewcontent/RIE_vonHagen_Zhang.pdf

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