The paper proposes a new disequilibrium approach to modeling international capital mobility. Key to this approach are errors in investors' assessments of potential returns to capital -- such as those recently observed in Asia. We use the model to study dynamic adjustment of North American farm...

Paper presented at the 2nd Annual Conference on Global Economics Analysis, Denmark, June 20-22. The paper proposes a new disequilibrium approach to modeling international capital mobility for a dynamic multi- region general equilibrium model. Key to this approach are errors in investors’...

After a boom in foreign direct investment (FDI) in China in the early 1990s, FDI slowed in the late 1990s. More recently, with China's accession to the World Trade Organization (WTO) a reality, FDI has once again picked up. This paper explores the linkage between WTO accession and investment in...

Choices: The Magazine of Food, Farm, and Resource Issues, Second Quarter The East Asian crisis is not all bad news for the United States and Canada (North America). Net debtors in North America – be they individual families refinancing their mortgages, businesses financing their expansion, or...

This paper revisits the analysis of the implications of China's economic growth on her trading partners presented in Arndt et al. (1997) using a dynamic, applied general equilibrium model that features international capital mobility. We find that accounting for the impact of China's growth on...

Gradual change has been a hallmark of the Chinese reform experience, and China's success in its sequential approach makes it unique among the former command economies. Since 1979, with the inception of the continuing era of reform, the Chinese economy has flourished. Growth has averaged nine...