Foreign Capital, Unemployment, Worker's Efficiency and Fair Wage
AbstractA Two sector fair wage model has been considered. It is shown that an exogenous inflow of foreign capital has no effect on unemployment; and the Brecher-Alejandro(1977) proposition remains valid in its original form when the efficiency function is similar to that of Aell and Lundbrg (1992, 1995). However, results may be different in the following cases: (i) the efficiency depends negatively on the ratio of foreign capital to domestic capital; (ii) there is intersectoral distortion in the capital market; (iii) one of the two sectors produces an unhealthy good and worsens efficiency; and (iv) the foreign capital inflow leads to technological advancement in the economy.
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Bibliographic InfoArticle provided by Department of Economics, Delhi School of Economics in its journal Indian Economic Review.
Volume (Year): 34 (1999)
Issue (Month): 1 (January)
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Postal: University of Delhi, Delhi 110 007
Phone: 91-11-2766-6533/34/35, 2766-6703/04/05
Web page: http://www.ierdse.org/
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Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
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- Sarbajit Chaudhuri, 2005.
"Foreign Capital, Welfare And Urban Unemployment In The Presence Of Agricultural Dualism,"
- Chaudhuri, Sarbajit, 2007. "Foreign capital, welfare and urban unemployment in the presence of agricultural dualism," Japan and the World Economy, Elsevier, vol. 19(2), pages 149-165, March.
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