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Welfare Enhancing Capital Imports

  • Masao Oda

    ()

    (Ritsumeikan University and University of Shimane)

  • Koji Shimomura

    (Kobe University)

  • Ryuhei Wakasugi

    ()

    (Institute of Economic Research, Kyoto University)

This paper provides a model to consider the conditions under which an acceptance of foreign capital is welfare enhancing in a multi-commodity multi-factor framework. Contrary to the pessimistic conventional wisdom of capital imports and welfare, we provide a justification for the acceptance of foreign capital and the diversification of industrial structure in developing countries. A sufficient condition for the acceptance of foreign capital to be welfare enhancing is that all domestic factors move into the new export sector in equal proportion to the endowments of factors.

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File URL: http://www.kier.kyoto-u.ac.jp/DP/DP641.pdf
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Paper provided by Kyoto University, Institute of Economic Research in its series KIER Working Papers with number 641.

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Length: 21pages
Date of creation: Oct 2007
Date of revision:
Handle: RePEc:kyo:wpaper:641
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