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International Capital Mobility and Free Trade Once Again

机译:国际资本流动与自由贸易再一次

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摘要

Using a Heckscher-Ohlin model, this paper re-examines Robert Mundell's famous thesis that free trade and unimpeded capital mobility are perfect substitutes. Under very general conditions which, according to many economists, have caused international convergence of factor rewards, we show that in a polluted environment free trade is inferior to free international investment. This happens even though commodity prices and factor rewards are the same with both policies. The practical side of our thesis is that the world will be better off by reducing the volume of trade while removing all barriers to foreign direct investment that at present hamper the service industries.
机译:本文使用Heckscher-Ohlin模型,重新审视了罗伯特·蒙代尔(Robert Mundell)的著名论点,即自由贸易和不受阻碍的资本流动是完美的替代品。许多经济学家认为,在非常普遍的条件下,要素奖励已经在国际上趋同,我们证明,在污染的环境中,自由贸易不如自由国际投资。即使两种政策的商品价格和要素奖励相同,也会发生这种情况。我们的论文的实践方面是,通过减少贸易量,同时消除目前阻碍服务业的所有外国直接投资壁垒,世界将变得更好。

著录项

  • 来源
    《Review of international economics》 |2012年第1期|p.59-71|共13页
  • 作者

    Ravi Batra; Hamid Beladi;

  • 作者单位

    Southern Methodist University;

    Department of Economics, College of Business, University of Texas at San Antonio, One UTSA Circle, San Antonio,TX 78249, USA;

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  • 原文格式 PDF
  • 正文语种 eng
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