| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4677 |
| DP4677 Domestic and International Finance: How Do They Affect Consumption Smoothing? | |
| Harry Huizinga; Dantao Zhu | |
| 发表日期 | 2004-10-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper focuses on policies facilitating firm adjustment to globalization. We briefly review the effects of trade and investment liberalization on firms, focusing on within- industry effects. We postulate that governments? role in supporting the process is to: (i) ensure that firms face ?right? incentives to adjust, and (ii) intervene in areas where market failures are present. The main message of the Paper is that while many policies could be adopted to address market failures, they need to be carefully designed and implemented in a stable macroeconomic environment. An institutional infrastructure that supports the functioning of modern markets is most important. Pro-active support policies of whatever stripe should be subject to cost benefit analysis, based on the existence of an identified market failure and monitored for performance and cost effectiveness. Transparency and accountability are critical in ensuring that interventions accomplish their intended objectives rather than being vehicles for rent seeking. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Globalization Adjustment Government policies |
| URL | https://cepr.org/publications/dp4677 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533598 |
| 推荐引用方式 GB/T 7714 | Harry Huizinga,Dantao Zhu. DP4677 Domestic and International Finance: How Do They Affect Consumption Smoothing?. 2004. |
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