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Domestic Institutions and the Bypass Effect of Financial Globalization
Ju, Jiandong; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2007
, corporate governance, and property rights protection - and patterns of international capital flows. It studies conditions under … poor corporate governance in a country may be completely bypassed by two-way capital flows in which domestic savings leave … effect is ambiguous for a developing country with an inefficient financial sector/poor corporate governance. However, the net …
Persistent link: https://www.econbiz.de/10005789081
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On the connection between intra-temporal and intertemporal trade
Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012
Sticky (or slow-adjusting) current accounts are observed for many countries. This paper explores the role of domestic factor market flexibility in understanding the phenomenon. To do so, we consider multiple tradable sectors with different factor intensities and allow substitution between...
Persistent link: https://www.econbiz.de/10011083600
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Trade Reforms and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?
Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2013
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...
Persistent link: https://www.econbiz.de/10011084142