Capital Mobility in Neoclassical Models of Growth PDF Download
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Author: Robert J. Barro
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 44
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Book Description
Author: Robert J. Barro
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 44
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Book Description
Author: Richard H. Clarida
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 44
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Book Description
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.
Author: Robert Graham King
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 41
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Book Description
Author: Assaf Razin
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 42
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Book Description
We consider the role of capital mobility and international taxation. In explaining the observed diversity in long-term growth rates. Our major finding is that, under capital mobility, international differences in taxes will not matter for total growth differentials. Policy differences have a role to play in per capita growth differentials, however, when they lead to a divergence in the after-tax rates of return on capital across countries, as when the residence principle is adopted universally. When this is the case, how tax differences affect the growth rates of population and human capital will depend on the relative preference of the individual household towards these two engines of growth. Optimal tax policies are found to be growth-equalizing with and without policy coordination.
Author: Mr.Harm Zebregs
Publisher: International Monetary Fund
ISBN: 1451854889
Category : Business & Economics
Languages : en
Pages : 29
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Book Description
This paper reviews the theoretical literature on the question of how long-term international capital movements depend on the international distribution of technology. It focuses on long-term investment flows, as these are more affected by international differences in technologies than short-term financial flows. International capital movements are investigated in the context of various technology specifications, ranging from models with only one common technology to those with multiple and endogenous technologies. The paper demonstrates that the theoretical specification of technology is crucial to the prediction of the size and direction of international capital movements.
Author: Frank Hahn
Publisher: Springer
ISBN: 1349262706
Category : Business & Economics
Languages : en
Pages : 307
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Book Description
This collection offers a stimulating and insightful overview of the main issues affecting long-term economic growth. The novelty of this book is that it brings together two strands of economic literature, growth and development theories. The communication between different approaches is crucial as it is increasingly understood that growth hinges upon institutional and policy aspects that are generally neglected in the stylized models of growth but highly relevant for developing countries. Government policies and institution design become central to the explanation of divergent growth paths.
Author: Andre Burgstaller
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Sergio Rebelo
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
Author: Vladimir Klyuev
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal optimizing model are relatively high capital intensity in the production of goods and limited cross-border capital mobility, allowing the interest rate to vary. With plausible parameterization, the model also predicts a decline in the employment share of the goods sector over time.
Author: Xavier Sala-i-Martin
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 68
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Book Description
This is a survey of the literature on Economic Growth. In the introduction we analyze the main differences between exogenous and endogenous growth models using fixed savings rate analysis. We argue that in order to have endogenous growth there must be constant returns to the factors that can be accumulated. A graphical tool is then developed to show that changes in the savings rate have different effects on long run growth in the two kinds of models; we show that only endogenous growth models are affected by shifts in the savings rate. We then explore two versions of the Raasey-Cass-Koopmans neoclassical model where savings are determined optimally; one with exogenous productivity growth and one without.
