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 nancial opening facilitates the in ows of cheap foreign funds and improves production e ciency. Reforms increasing labor market exibility can further im...

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Bibliographic Details
Main Authors: von HAGEN, Jürgen, ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2007
Subjects:
Capital account liberalization
Capital controls
Financial frictions
Macroeconomic
uctuations
Asset price overshooting
International Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/1076
https://ink.library.smu.edu.sg/context/soe_research/article/2075/viewcontent/Welfare_Zhang.pdf
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soe_research/1076
https://ink.library.smu.edu.sg/context/soe_research/article/2075/viewcontent/Welfare_Zhang.pdf

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