کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5067690 1372620 2006 22 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
International credit and welfare: A paradoxical theorem and its policy implications
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
International credit and welfare: A paradoxical theorem and its policy implications
چکیده انگلیسی
This paper considers a developing nation that faces a foreign exchange shortage and hence its demand for foreign goods is limited both by its income and its foreign exchange balance. Availability of international credit relaxes the second constraint. We develop a simple model of strategic interaction between lending institutions and firms, and show that the availability of international credit at concessionary rates can leave the borrowing nation worse off than if it had to borrow money at higher market rates. This 'paradox of benevolence' is then used to motivate a discussion of policies pertaining to international lending and the Southern government's method of rationing out foreign exchange to the importers.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 50, Issue 6, August 2006, Pages 1507-1528
نویسندگان
, ,