Trade and Financial Integration, Extensive Margin, and Income Divergence

Trade and Financial Integration, Extensive Margin, and Income Divergence

We revisit the classical question on economic integration and income convergence in a two-sector OLG model with financial frictions and sectoral heterogeneity in minimum investment requirements (MIR, hereafter). The extensive margin of investment is a critical channel through which aggregate income...

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Bibliographic Details
Main Author: ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2014
Subjects:
financial frictions
financial integration
income divergence
minimum investment requirement
symmetry breaking
trade integration
Finance
International Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/1590
https://ink.library.smu.edu.sg/context/soe_research/article/2589/viewcontent/05_2014.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/1590
https://ink.library.smu.edu.sg/context/soe_research/article/2589/viewcontent/05_2014.pdf

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