| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18653 |
| 来源ID | Working Paper 18653 |
| Trade Reforms and Current Account Imbalances | |
| Jiandong Ju; Kang Shi; Shang-Jin Wei | |
| 发表日期 | 2012-12-21 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper studies the effects of trade liberalization on capital flows in a dynamic Heckscher-Ohlin model, and makes four contributions. First, we identify an interest rate over-determination problem in such a model, and solve it with an endogenous discount factor. Second, we show that a trade liberalization in a developing country generally leads to a greater current account surplus, which is the exact opposite of a common but partial equilibrium intuition. Third, factor market reforms reinforce the effect of the trade liberalization on capital outflows. Finally, our calibrations suggest that China’s accession to the WTO is likely an important factor driving the rise of its current account surplus. |
| 主题 | International Economics ; International Factor Mobility ; International Finance |
| URL | https://www.nber.org/papers/w18653 |
| 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/576328 |
| 推荐引用方式 GB/T 7714 | Jiandong Ju,Kang Shi,Shang-Jin Wei. Trade Reforms and Current Account Imbalances. 2012. |
| 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 | ||
| w18653.pdf（601KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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