Foreign debt and capital accumulation
نویسندگان
چکیده
منابع مشابه
International Portfolios, Capital Accumulation and Foreign Asset Dynamics International Portfolios, Capital Accumulation and Foreign Assets Dynamics
Despite the liberalization of capital ows among OECD countries, equity home bias remains sizable. We depart from the two familiar explanations of equity home bias: transaction costs that impede international diversi cation, and terms of trade responses to supply shocks that provide risk sharing, so that there is little incentive to hold diversi ed portfolios. We show that the following ingredi...
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In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model with an investment function very close to Kalecki’s original writings. The effects of interest rate variations on the short-run equilibrium values of capacity utilisation, capital accumulation and the rate of profit are derived, and the long run effects on the equilibrium debt-...
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Why do some developing country governments accumulate large foreign debts while others do not? I hypothesize that variation in foreign borrowing is a function of variation in the breadth of public participation in the political process. Specifically, governments borrow less when political institutions enable broad public participation in the political process and encourage the revelation of inf...
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ژورنال
عنوان ژورنال: Weltwirtschaftliches Archiv
سال: 1987
ISSN: 0043-2636,1610-2886
DOI: 10.1007/bf02708570