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The Influence of Capital Market Integration on Production and Market Structures

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  • Michael J. Koop
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    Abstract

    The paper analyzes the effects of increasing capital market integration on production and market structures, trade and capital flows as well as national and global welfare. In order to facilitate the analysis of the integration process, three stages of capital market integration are defined. First, capital is internationally immobile, secondly, capital is partly mobile, and finally perfect capital mobility is considered. The analysis is carried by means of a general equilibrium model of international trade which incorporates the new trade theory as well as aspects of the theory of multinational enterprises. Simulations of each of the three versions of the model for different absolute and relative factor endowments provide insights into the changes that are brought about by capital market integration.

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    File URL: http://www.ifw-members.ifw-kiel.de/publications/the-influence-of-capital-market-integration-on-production-and-market-structures/kap1040.pdf
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    Bibliographic Info

    Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1040.

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    Length: 30 pages
    Date of creation: Mar 2001
    Date of revision:
    Handle: RePEc:kie:kieliw:1040

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    Related research

    Keywords: Market Structure; International Trade; Foreign Direct Investment; Multinational Enterprise;

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    References

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    1. Markusen, James R., 1984. "Multinationals, multi-plant economies, and the gains from trade," Journal of International Economics, Elsevier, vol. 16(3-4), pages 205-226, May.
    2. Friedman,James, 1983. "Oligopoly Theory," Cambridge Books, Cambridge University Press, number 9780521282444, October.
    3. James Brander & Paul Krugman, 1982. "A 'Reciprocal Dumping' Model of International Trade," Working Papers 513, Queen's University, Department of Economics.
    4. Markusen, James R., 1983. "Factor movements and commodity trade as complements," Journal of International Economics, Elsevier, vol. 14(3-4), pages 341-356, May.
    5. James R. Markusen & Anthony J. Venables, 1995. "Multinational Firms and The New Trade Theory," NBER Working Papers 5036, National Bureau of Economic Research, Inc.
    6. Wong, Kar-yiu, 1986. "Are international trade and factor mobility substitutes?," Journal of International Economics, Elsevier, vol. 21(1-2), pages 25-43, August.
    7. Horstmann, Ignatius J. & Markusen, James R., 1992. "Endogenous market structures in international trade (natura facit saltum)," Journal of International Economics, Elsevier, vol. 32(1-2), pages 109-129, February.
    8. James R. Markusen & Anthony J. Venables & Denise Eby Konan & Kevin H. Zhang, 1996. "A Unified Treatment of Horizontal Direct Investment, Vertical Direct Investment, and the Pattern of Trade in Goods and Services," NBER Working Papers 5696, National Bureau of Economic Research, Inc.
    9. Ignatius J. Horstmann & James R. Markusen, 1990. "Endogenous Market Structures in International Trade," NBER Working Papers 3283, National Bureau of Economic Research, Inc.
    10. S. Baranzoni & P. Bianchi & L. Lambertini, 2000. "Market Structure," Working Papers 368, Dipartimento Scienze Economiche, Universita' di Bologna.
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    Cited by:
    1. Michael J. Koop, 2001. "Capital Income Taxation of Asymmetric Countries," Kiel Working Papers 1041, Kiel Institute for the World Economy.

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