外文翻譯資料--外國(guó)資本流入和福利經(jīng)濟(jì)的不完全競(jìng)爭(zhēng)-wenkub
2023-05-19 05:14:56 本頁(yè)面
【正文】 ignowned capital always improve welfare by depressing the rental and so lowering the payments to existing foreignowned capital. Recently, Neary (1981), using a mon framework for both tariffs and quotas, obtains more general results of foreign capital inflows。 the inflows, however, are in the long run necessarily welfare improving with inter sectoral capital mobility. Since perfect petition is a limiting case of imperfect petition modeled in this paper, Dei’s result regarding welfareimproving foreign capital can be viewed as a special case of the present analysis. We construct a generalequilibrium model to capture the key salient features of imperfect petition for developing economies in Section 2. The resourcealloc ational effects of foreign capital inflows in the presence of quantitative restrictions are examined in Section 3. The welfare impact of foreign capital inflows is discussed in Section 4. Section5 presents concluding remarks. 2. Concluding remarks This paper has examined the effects of inflows of foreign capital on home resource allocation and welfare in a generalequilibrium framework. The home country is characterized by oligopolistic petition, scale economies, and regional unemployment. Although the welfare effect of foreign capital for the short run is somewhat indeterminate and is dependent on the magnitude of the effects of excess profits and scale economies (relative to the unemployment effect in manufacturing), the inflows of foreign capital always improve welfare for such economies in the long run with capital mobility. Our results, which stand in sharp contrast to those derived in the presence of tariffs (Beecher and Dial Alejandro, 1977), lend support to the finding of Deｉ (1985). Dei’s key resu
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