| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4506 |
| 来源ID | Working Paper 4506 |
| International Capital Mobility, Public Investment and Economic Growth | |
| Richard H. Clarida | |
| 发表日期 | 1993-10-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | This paper presents a neoclassical model of international capital flows, public investment, and economic growth. Because public capital is non-traded and is imperfectly substitutable for private capital, the open economy converges only gradually to the Solow steady-state notwithstanding the fact that international capital mobility is perfect. Along the convergence path, the economy initially runs a current account deficit that reflects a consumption boom and a surge in public spending. Over time, the rate of public investment declines as does the rate of growth in the standard measure of multifactor productivity in the private sector, the Solow residual. |
| 主题 | International Economics ; International Macroeconomics |
| URL | https://www.nber.org/papers/w4506 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561883 |
| 推荐引用方式 GB/T 7714 | Richard H. Clarida. International Capital Mobility, Public Investment and Economic Growth. 1993. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4506.pdf（266KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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