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1、河南科技學(xué)院新科學(xué)院2013屆本科畢業(yè)生論文(設(shè)計(jì))英文文獻(xiàn)及翻譯Foreigncapitalinflowsandwelfareinaneconomywithimperfectcompetition學(xué)生姓名:王艷杰所在院系:經(jīng)濟(jì)系所學(xué)專(zhuān)業(yè):國(guó)際經(jīng)濟(jì)與貿(mào)易導(dǎo)師姓名:侯黎杰完成時(shí)間:2013年4月15日ForeigncapitalinflowsandwelfareinaneconomywithimperfectcompetitionAbstract:Thispaperexaminestheresourceallocationalandwelfareeffectsofexo
2、genousinflowsofforeigncapitalinageneral-equilibriummodelwitholigopolisticcompetitionandunemployment.Althoughthewelfareimpactfortheshortrunisambiguousanddependentuponthestrengthofexcessprofitsandscaleeconomiesrelativetounemploymentinmanufacturing,inthelongrunadditionalinflowsofforeigncap
3、italalwaysimprovenationalwelfarewithcapitalmobility.Hence,attractingforeigncapitalremainsasoundpolicyforeconomiescharacterizedbyimperfectcompetition,scaleeconomies,andregionalunemployment.Keywords:Internationalcapitalmobility;Imperfectcompetition;Welfare1.IntroductionThewelfareeffectsof
4、exogenousinflowsofforeigncapitalinthepresenceoftraderestrictionshavebeenextensivelystudied.BrecherandDiazAlejandro(1977)showthatwhenimportsaresubjecttotariffs,anintroductionofforeigncapitalinflowsaccentuatesthetariffdistortionandhencereducesnationalwelfareiftheimport-competingsectorisre
5、lativelycapital-intensive.Incontrast,Dei(1985)showsthatwhenimportsarerestrictedbyquotas,foreigncapitalinflowsinthepresenceofforeign-ownedcapitalalwaysimprovewelfarebydepressingtherentalandsoloweringthepaymentstoexistingforeign-ownedcapital.Recently,Neary(1981),usingacommonframeworkforbo
6、thtariffsandquotas,obtainsmoregeneralresultsofforeigncapitalinflows;thewelfareeffectofsuchinflowsdependscruciallyonwhetherforeign-ownedcapitalexistsinitiallyinthehomecountry.Inaddition,Khan(1982)andGrinols(1991)haveexaminedtheeffectsofforeigncapitalinflowsforageneralizedHarris-Todaroeco
7、nomyundertariffprotection.KhanfindsthattheresultbyBrecherandDiazAlejandroisstillvalideveninthepresenceofunemployment,whereasGrinolsarguesthatincreasedforeigncapitalneednotbedetrimentaltowelfareiftheopportunitycostsoflaboraresufficientlylow.Noteworthyisthatthemodelsusedbytheseau