| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9332 |
| 来源ID | Working Paper 9332 |
| Trade Openness, Investment Instability and Terms-of-Trade Volatility | |
| Assaf Razin; Efraim Sadka; Tarek Coury | |
| 发表日期 | 2002-11-11 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | In the presence of economies of scale in the investment technology, trade openness may have non-conventional effects on the level of investment, its cyclical behavior, and the volatility of the terms of trade. Trade openness may lead to boom-bust cycles of investment supported by self-fulfilling expectations. The economy may oscillate between 'optimistic' expectations, 'good' terms-of-trade and investment boom to 'pessimistic' expectations, 'bad' terms-of-trade and investment bust. We also suggest that the likelihood of such oscillations is higher for developing than for developed economies, because the former may typically incur higher setup costs of investment. This phenomenon may help to explain the excessive volatility of the terms of trade of developing countries, relative to industrial countries. |
| 主题 | International Economics ; Trade ; International Finance |
| URL | https://www.nber.org/papers/w9332 |
| 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/566948 |
| 推荐引用方式 GB/T 7714 | Assaf Razin,Efraim Sadka,Tarek Coury. Trade Openness, Investment Instability and Terms-of-Trade Volatility. 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 | ||
| w9332.pdf（826KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
