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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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2015
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| 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 |