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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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2008
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| Subjects: | |
| 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 |