全球智库信息集成服务系统(G2TT): DP9293 Trade Reforms and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP9293
	DP9293 Trade Reforms and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?
	Shang-Jin Wei; Kang Shi; Jiandong Ju
发表日期	2013-01-20
出版年	2013
语种	英语
摘要	In partial equilibrium, a reduction in import barriers may be thought to lead to an increase in imports and a reduction in trade surplus. However, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified Heckscher-Ohlin structure and an endogenous discount factor into an intertemporal model of current account. We show that trade liberalizations in a developing country would generally lead to capital outflow. In contrast, trade liberalizations in a developed country would result in capital inflow. Thus, efficient trade reforms can contribute to global current account imbalances, but these imbalances do not need policy
主题	International Macroeconomics ; International Trade and Regional Economics
URL	https://cepr.org/publications/dp9293
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/538129
推荐引用方式 GB/T 7714	Shang-Jin Wei,Kang Shi,Jiandong Ju. DP9293 Trade Reforms and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?. 2013.