题  目：Trade Reforms and Current Account Imbalances

报告人：施  康 香港中文大学

主持人：叶  兵

时  间：2013年3月27日   星期三   15:00-17:00

地  点：浙大玉泉校区外经贸大楼418室

 
                     欢迎广大师生参加！
 

                                              CRPE秘书处
                                               2013-3-25

Abstract

While a reduction in import barriers in a partial equilibrium may be thought to lead to an increase in imports and a reduction in trade surplus, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified Heckscher-Ohlin structure and an endogenous discount factor into an intertemporal model of current account. We show that trade liberalizations in a developing country would generally lead to capital outflow. In contrast, trade liberalizations in a developed country would result in capital inflow. Thus, efficient trade reforms can contribute to global current account imbalances, but these imbalances do not need policy "corrections"