A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using … investment was financed via private capital inflows. That said, foreign savings are not a good substitute for domestic savings … abruptly with compression of the current account, real exchange rate depreciation, and a sharp slowdown in investment. Summing …

quality. Under reasonable assumptions on demand, investment incentives turn out to be smaller under vertical separation than … market can sometimes improve incentives. With suitable non-linear access prices investment incentives under separation become … identical to those under integration. -- investment incentives ; networks ; quality ; vertical externality …