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150128 ||| eng |
| 020 |
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|a 9781451858747
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| 100 |
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|a Bhattacharya, Rina
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| 245 |
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|a Trade and Domestic Financial Market Reform Under Political Uncertainty
|b Implications for Investment, Savings, and the Real Exchange Rate
|c Rina Bhattacharya
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2000
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| 300 |
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|a 34 pages
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| 651 |
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4 |
|a Mexico
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| 653 |
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|a Wealth
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Taxes
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| 653 |
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|a Trade Policy
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Intangible Capital
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| 653 |
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|a Capital account
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| 653 |
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|a Domestic savings
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| 653 |
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|a National accounts
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a International trade
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Capacity
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| 653 |
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|a Taxation
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| 653 |
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|a Capital
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| 653 |
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|a Foreign exchange
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| 653 |
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|a Investment
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| 653 |
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|a Tariff
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| 653 |
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|a Tariffs
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| 653 |
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|a International Trade Organizations
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| 653 |
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|a Short-term Capital Movements
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| 653 |
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|a Saving
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| 653 |
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|a Current Account Adjustment
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| 653 |
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|a Trade liberalization
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| 653 |
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|a Balance of payments
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Currency
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| 653 |
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|a Aggregate Factor Income Distribution
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| 653 |
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|a International economics
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| 653 |
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|a Commercial policy
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| 653 |
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|a Saving and investment
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| 653 |
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|a Macroeconomics: Consumption
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| 653 |
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|a Real exchange rates
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| 653 |
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|a International Investment
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451858747.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2000/175/001.2000.issue-175-en.xml?cid=3833-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This paper presents a model that incorporates uncertainty about trade reform and analyzes the effects of trade and financial liberalization on domestic investment and savings, the current account balance and the real exchange rate, both when the capital account is open and when it is closed. Under certain assumptions financial liberalization leads to a movement of resources in the opposite direction to that implied by trade liberalization and to real exchange rate appreciation, thus defeating one of the objectives of tariff reform, when the capital account is open. When political economy linkages are taken into account, however, the indirect effects of financial liberalization may offset the direct effects, encouraging a movement of resources in the desired direction. With a closed capital account these results should still hold unless there are strong negative income effects from trade reform
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