Trade, FDI and Congestion - the Small and very Open Economy
Typically, a small and open economy trades goods at given world prices. Here, we present a model of a very open small economy, where capital and labour are internationally mobile, too. When investing into infrastructure, the economy’s government attracts not only mobile capital but mobile labour, too. These capital and labour inflows into the economy reinforce each other. They contribute to rising welfare for land owning indigenous households. But all potential benefits for land renting immigrant households are capitalized into higher land rents. The paper is also an attempt to give an account of the recent economic boom in Ireland.
|Date of creation:||Aug 2000|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: 44 - 20 - 7183 8801
Fax: 44 - 20 - 7183 8820
|Order Information:|| Email: |
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.:
- John FitzGerald, 1999. "Understanding Ireland's Economic Success," Papers WP111, Economic and Social Research Institute (ESRI).
- J.P. Neary, 1995.
"Factor Mobility and International Trade,"
CEP Discussion Papers
dp0248, Centre for Economic Performance, LSE.
- Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-78, December.
- Starrett, David A, 1981. "Land Value Capitalization in Local Public Finance," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 306-27, April.
- Yoshitsugu Kanemoto, 1980. "A Note on the Measurement of Benefits of Public Inputs," Canadian Journal of Economics, Canadian Economics Association, vol. 13(1), pages 135-42, February.
- John M. Hartwick, 1993. "Capitalization of Productivity Growth in Urban Land Rent," Working Papers 875, Queen's University, Department of Economics.
- John FitzGerald & Ide Kearney, 1999. "Migration and the Irish Labour Market," Papers WP113, Economic and Social Research Institute (ESRI).
- Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-48, December.
- Kanemoto, Yoshitsugu, 1988.
"Hedonic Prices and the Benefits of Public Projects,"
Econometric Society, vol. 56(4), pages 981-89, July.
- Yoshitsugu Kanemoto, 1985. "Hedonic Prices and the Benefits of Public Projects," Working Papers 617, Queen's University, Department of Economics.
- Maurice J. Roche, 1999. "Irish house prices: will the roof fall in?," Economics, Finance and Accounting Department Working Paper Series n890699, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
- Holger Görg & Frances Ruane, 1997. "Reflections on Irish Industrial Policy towards Foreign Direct Investment," Economics Policy Papers 973, Trinity College Dublin, Department of Economics.
- Maurice J. Roche, 1999. "Irish House Prices - Will the Roof Cave In?," The Economic and Social Review, Economic and Social Studies, vol. 30(4), pages 343-362.
When requesting a correction, please mention this item's handle: RePEc:cpr:ceprdp:2526. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()The email address of this maintainer does not seem to be valid anymore. Please ask to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.