| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8827 |
| 来源ID | Working Paper 8827 |
| Trade Openness and Investment Instability | |
| Assaf Razin; Efraim Sadka; Tarek Coury | |
| 发表日期 | 2002-03-07 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of investment and its cyclical behavior. Trade openness may lead to a discrete 'jump' in the level of investment, as it may trigger a discrete change in the terms of trade. Such a shift creates a sizeable boost in aggregate investment. But trade openness may also lead to boom-bust cycles of investment (namely, multiple equilibrium) supported by self-validating expectations. In this sense globalization destabilizes the economy. There can be substantial gains from globalization in the investment-boom equilibrium. However, gains could be small, or negative, in the investment-bust equilibrium. |
| 主题 | International Economics ; International Macroeconomics ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w8827 |
| 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/566434 |
| 推荐引用方式 GB/T 7714 | Assaf Razin,Efraim Sadka,Tarek Coury. Trade Openness and Investment Instability. 2002. |
| 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 | ||
| w8827.pdf（318KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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