International investment barriers in general equilibrium
This paper examines quantitative international investment barriers in a general equilibrium model. The constraints force otherwise similar agents to hold different portfolios of risky assets. We show that this induces lending and borrowing. This in turn instroduces a hedging motive against shifts in...
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| Veröffentlicht in: | Journal of international economics 1993-02, Vol.34 (1), p.137-151 |
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| container_end_page | 151 |
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| container_title | Journal of international economics |
| container_volume | 34 |
| creator | Sellin, Peter Werner, Ingrid M. |
| description | This paper examines quantitative international investment barriers in a general equilibrium model. The constraints force otherwise similar agents to hold different portfolios of risky assets. We show that this induces lending and borrowing. This in turn instroduces a hedging motive against shifts in the interest rate. The factors affecting agents' portfolio choice, the allocation of capital across countries, as well as the interest rate are charcterized. We conjure that the equilibrium world interest rate will be lower in the constrained situations than with free capital flows. |
| doi_str_mv | 10.1016/0022-1996(93)90070-E |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0022-1996 |
| ispartof | Journal of international economics, 1993-02, Vol.34 (1), p.137-151 |
| issn | 0022-1996 1873-0353 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37444373 |
| source | RePEc; Elsevier ScienceDirect Journals; Periodicals Index Online |
| subjects | Capital Capital stock Economic models Economic theory Factors Foreign investment Functions General economic equilibrium Hedging Interest rates International investment International trade Investment Market equilibrium Portfolio management |
| title | International investment barriers in general equilibrium |
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