학술저널
The Role of Stock Markets in International Economic Integration
The Role of Stock Markets in International Economic Integration
- 세종대학교 경제통합연구소
- Journal of Economic Integration
- 제11권 제1호
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1996.0393 - 113 (21 pages)
- 0
The paper studies the role of stock markets in international economic integration in a two country one-good model where intertemporal optimizing behavior of infinitely-lived agents endogenously determines the rate of capital accumulation and the current account. It highlights the significance of adjustment costs and equity prices for the time path the integrated world economy follows upon introduction of intertemporal trade.
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