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The Influence of Capital Market Integration on Production and Market Structures

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  • Koop, Michael J.

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.

Suggested Citation

  • Koop, Michael J., 2001. "The Influence of Capital Market Integration on Production and Market Structures," Kiel Working Papers 1040, Kiel Institute for the World Economy (IfW).
  • Handle: RePEc:zbw:ifwkwp:1040
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    File URL: https://www.econstor.eu/bitstream/10419/17729/1/kap1040.pdf
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    References listed on IDEAS

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    1. Brander, James & Krugman, Paul, 1983. "A 'reciprocal dumping' model of international trade," Journal of International Economics, Elsevier, vol. 15(3-4), pages 313-321, November.
    2. Friedman, James, 1993. "Oligopoly theory," Handbook of Mathematical Economics,in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 11, pages 491-534 Elsevier.
    3. Wong, Kar-yiu, 1986. "Are international trade and factor mobility substitutes?," Journal of International Economics, Elsevier, vol. 21(1-2), pages 25-43, August.
    4. 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.
    5. 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.
    6. Markusen, James R., 1983. "Factor movements and commodity trade as complements," Journal of International Economics, Elsevier, vol. 14(3-4), pages 341-356, May.
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    Cited by:

    1. Koop, Michael J., 2001. "Capital Income Taxation of Asymmetric Countries," Kiel Working Papers 1041, Kiel Institute for the World Economy (IfW).

    More about this item

    Keywords

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

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation

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