Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013
in trade surplus. However, the general equilibrium effect can go in the opposite direction. We study how trade reforms … 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 …