Trade Integration, Income Divergence, and Global Imbalances

Trade Integration, Income Divergence, and Global Imbalances

We embed financial frictions and sector-specific minimum investment requirements (MIR) in a two-factor, two-sector, overlapping-generation model and showthat whether trade integration leads to convergence of the income levels among member states depends on their level of financial development. It he...

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Bibliographic Details
Main Author: ZHANG, Haiping
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2015
Subjects:
financial development
financial integration
minimum investment requirements
symmetry breaking
trade integration
wealth inequality
Finance
International Economics
Online Access:https://ink.library.smu.edu.sg/soe_research/1780
https://ink.library.smu.edu.sg/context/soe_research/article/2779/viewcontent/15_2015.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/soe_research/1780
https://ink.library.smu.edu.sg/context/soe_research/article/2779/viewcontent/15_2015.pdf

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