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1、河南科技學院新科學院2013屆本科畢業(yè)生論文（設計）英文文獻及翻譯Foreigncapitalinflowsandwelfareinaneconomywithimperfectcompetition學生姓名：王艷杰所在院系：經(jīng)濟系所學專業(yè)：國際經(jīng)濟與貿(mào)易導師姓名：侯黎杰完成時間：2013年4月15日ForeigncapitalinflowsandwelfareinaneconomywithimperfectcompetitionAbstract:Thispaperexaminestheresourc
2、eallocationalandwelfareeffectsofexogenousinflowsofforeigncapitalinageneral-equilibriummodelwitholigopolisticcompetitionandunemployment.Althoughthewelfareimpactfortheshortrunisambiguousanddependentuponthestrengthofexcessprofitsandscaleeconomiesrelativet
3、ounemploymentinmanufacturing,inthelongrunadditionalinflowsofforeigncapitalalwaysimprovenationalwelfarewithcapitalmobility.Hence,attractingforeigncapitalremainsasoundpolicyforeconomiescharacterizedbyimperfectcompetition,scaleeconomies,andregionalunemplo
4、yment.Keywords:Internationalcapitalmobility;Imperfectcompetition;Welfare1.IntroductionThewelfareeffectsofexogenousinflowsofforeigncapitalinthepresenceoftraderestrictionshavebeenextensivelystudied.BrecherandDiazAlejandro(1977)showthatwhenimportsaresubje
5、cttotariffs,anintroductionofforeigncapitalinflowsaccentuatesthetariffdistortionandhencereducesnationalwelfareiftheimport-competingsectorisrelativelycapital-intensive.Incontrast,Dei(1985)showsthatwhenimportsarerestrictedbyquotas,foreigncapitalinflowsint
6、hepresenceofforeign-ownedcapitalalwaysimprovewelfarebydepressingtherentalandsoloweringthepaymentstoexistingforeign-ownedcapital.Recently,Neary(1981),usingacommonframeworkforbothtariffsandquotas,obtainsmoregeneralresultsofforeigncapitalinflows;thewelfar
7、eeffectofsuchinflowsdependscruciallyonwhetherforeign-ownedcapitalexistsinitiallyinthehomecountry.Inaddition,Khan(1982)andGrinols(1991)haveexaminedtheeffectsofforeigncapitalinflowsforageneralizedHarris-Todaroeconomyundertariffprotection.Khanfindsthatthe
8、resultbyBrecherandDiazAlejandroisstillvalideveninthepresenceofunemployment,whereasGrinolsarguesthatincreasedforeigncapitalneednotbedetrimentaltowelfareiftheopportunitycostsoflaboraresufficientlylow.Noteworthyisthatthemodelsusedbytheseau
