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<ARTICLE>Capital Market Imperfections, Credit Markets, and Foreign Direct Investment
https://doi.org/10.24729/00000901
https://doi.org/10.24729/00000901afad0ef3-c892-4a20-bcc2-11b1f7047437
名前 / ファイル | ライセンス | アクション |
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KJ00000046049.pdf (1.1 MB)
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Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||
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公開日 | 2009-08-25 | |||||
タイトル | ||||||
タイトル | <ARTICLE>Capital Market Imperfections, Credit Markets, and Foreign Direct Investment | |||||
言語 | ||||||
言語 | eng | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | CSV | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Credit Rationing | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | FDI | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Economic Growth | |||||
キーワード | ||||||
主題Scheme | Other | |||||
主題 | Welfare | |||||
資源タイプ | ||||||
資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||
資源タイプ | departmental bulletin paper | |||||
ID登録 | ||||||
ID登録 | 10.24729/00000901 | |||||
ID登録タイプ | JaLC | |||||
著者 |
Han, Chi
× Han, Chi |
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抄録 | ||||||
内容記述タイプ | Abstract | |||||
内容記述 | We consider a two-country growth model to analyze effects of foreign direct investment (FDI) on economic growth and welfare in China. China has conducted an opening and restricted policy: FDI is accepted from other countries but capital outflows are restricted. In this paper, we denote China as a developing country and assume that another developed country exists. We also assume that any potential investor in each of both countries has no sufficient internal funds to operate his investment project; he must require external financing in their own credit market subject to a costly state verification (CSV) problem that leads credit rationing. In this environment, we find that the two countries will simultaneously converge to an identical, unique, nontrivial steady state with an identical initial capital stock. Compared to this, Boyd and Smith (1997) argued that, when the two countries open their credit markets, the two countries would respectively converge to asymmetric steady state with capital flight in less-developing country. Therefore, the opening and restricted policy in China not only makes China fester to approach the steady state, but also makes China avoid capital flight. Furthermore, compared to closed economies, the opening and restricted policy in China don't change the welfare of either of the two countries in the steady state, though Cardoso and Dornbusch (1989) and Reis (2001) argued that FDI might reduce the welfares of developing countries. | |||||
引用 | ||||||
内容記述タイプ | Other | |||||
内容記述 | Journal of economics, business and law. 2003, 5, p.63-83 | |||||
書誌情報 |
Journal of economics, business and law 巻 5, p. 63-83, 発行日 2003-03-31 |
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ISSN | ||||||
収録物識別子タイプ | ISSN | |||||
収録物識別子 | 1344-770X | |||||
書誌レコードID | ||||||
収録物識別子タイプ | NCID | |||||
収録物識別子 | AA11338387 | |||||
フォーマット | ||||||
内容記述タイプ | Other | |||||
内容記述 | application/pdf | |||||
著者版フラグ | ||||||
出版タイプ | VoR | |||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
出版者 | ||||||
出版者 | College of Economics, Osaka Prefecture University |