Development of Financial Institutions, Comparative Advantage and Aggregate Productivity
2008/07/15
研討會日期 : 2008-07-15
時間 : 19:00
主講人 : 徐則謙
地點 : B棟110室
演講者簡介 : Professor Tsechien Hsu 為 Ph.D. in Economics，Columbia University (2006)。
目前為台灣大學經濟系助理教授。
其主要研究領域為國際經濟學。
演講摘要 : This paper incorporates firm heterogeneity in productivity endogenously generated by imperfections in the financial institutions within a H-O framework and analyzes the effects of trade on the aggregate productivity and the development of financial institutions. In the short-run, when imperfections are exogenous countries with worse financial institutions enjoy positive terms of trade externality generated by the better financial institutions in other countries, which increases aggregate productivity. In the long-run, because of the positive terms of trade externality, when governments can adjust the provision of the financial infrastructure, countries with lower technology to provide infrastructure reduce the amount they invest in it and aggregate productivity decreases. However, in both cases, the opposite results and mechanisms happen in countries with better technology to provide infrastructure. It then corresponds to the recent micro-founded research analyzing impact of trade on aggregate productivity through resources reallocations.
