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Saving and Investment in an Open Economy with Non-traded Goods Author info | Abstract | Publisher info | Download info | Related research | Statistics Engel, Charles
Kletzer, Kenneth
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The authors examine a model of a small, open economy in which there is free international mobility of financial capital, investment in capital goods, and a nontraded good. Such an environment is rich enough to explain several phenomena that are inexplicable in other models. The authors explain why a high saving country may nonetheless borrow from abroad to finance investment. They suggest an explanation of why saving and investment may be correlated even with no restrictions on trade in assets. The authors also provide an optimizing model of stages in the balance of payments. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review .
Volume (Year): 30 (1989)
Issue (Month): 4 (November)
Pages: 735-52
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Handle: RePEc:ier:iecrev:v:30:y:1989:i:4:p:735-52Contact details of provider: Postal: 160 McNeil Building, 3718 Locust Walk, Philadelphia, PA 19104-6297 Phone: (215) 898-8487 Fax: (215) 573-2057 Email: Web page: http://www.econ.upenn.edu/ier More information through EDIRC
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Charles Engel & Kenneth M. Kletzer, 1986.
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Obstfeld, Maurice, 1986.
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Other versions: Martin Feldstein & Charles Horioka, 1980.
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Other versions: Buiter, Willem H, 1981.
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Other versions: Obstfeld, Maurice, 1981.
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Other versions: Martin Feldstein, 1982.
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Other versions:
Feldstein, Martin, 1983.
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"Current Account Dynamics and the Terms of Trade: Harberger-Laursen-Metzler Two Generations Later ,"
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Other versions: Jeffrey A. Frankel, 1985.
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Ethier, Wilfred J., 1984.
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Handbook of International Economics ,
in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 3, pages 131-184
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
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Maurice Obstfeld, 1994.
"International capital mobility in the 1990s ,"
International Finance Discussion Papers
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[Downloadable!] (restricted) Obstfeld, Maurice, 1994.
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[Downloadable!] (restricted) Maurice Obstfeld., 1994.
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Fukao, K. & Hamada, K., 1990.
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International Economic Journal ,
Korean International Economic Association, vol. 9(2), pages 37-60, June.
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Charles Engel & John H. Rogers, 1994.
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Other versions: Daniel Levy, 2000.
"Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 3(1), pages 100-137, January.
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Other versions: Yunjong Wang & Soyoung Kim & Sunghyun H. Kim, 2002.
"Macroeconomic Effects of Capital Account Liberalization: The Case of Korea Capital Account Liberalization: The Case of Korea ,"
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