外文翻譯資料--外國資本流入和福利經(jīng)濟(jì)的不完全競(jìng)爭(zhēng)(編輯修改稿)
2025-06-26 05:14 本頁面
【文章內(nèi)容簡(jiǎn)介】 or by quotas rather than tariffs。 and (3) imperfect home capital markets and, thus, sluggish movements of capital among sectors. The purpose of the present paper is to develop a model to incorporate these key features of imperfect petition characterizing a developing economy. In addition to the abovementioned features as noted by Rodrik, we also introduce in our framework sectorspecific unemployment frequently observed in a developing nation. The model will then be utilized to examine the welfare implications of foreign capital inflows. It will be shown that foreign capital inflows in the presence of a given quota may be detrimental to welfare in the short run in which capital is sectorspecific。 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
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