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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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2007
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| Subjects: | |
| 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 |